Extension and Execution of the Russian Federation State Guarantees

Annual Report 2013
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# Extension and Execution of the Russian Federation State Guarantees

As at the end of 2013, Vnesheconombank kept records of 317 extended state guarantees of the Russian Federation amounting to RUB 1,640.9 bn (as at 01.01.2013 – 243 state guarantees amounting to USD 1,205.7 bn).

In the period under review, the Bank made a thorough scrutiny and analysis of 101 sets of documents for provision of state guarantees of the Russian Federation for the total sum of RUB 474.2 bn for 79 principals. Based on the results of reviews and analyses, 417 opinions were prepared and submitted to the Russian Federation Ministry of Finance. These include 74 final positive opinions amounting to RUB 411.8 bn.

Over 2013, Vnesheconombank’s professionals prepared and submitted to the Russian Federation Ministry of Finance 83 opinions on making amendments/supplements to loan agreements and contracts on securing commitment fulfillment, which are covered by the Russian Federation state guarantees.

The year 2013 witnessed scrutiny of 13 beneficiaries’ claims to execute state guarantees of the Russian Federation. As a result, 2 positive opinions and 11 opinions on non-compliance of the claims with the established procedures in respect of state guarantees of the Russian Federation were prepared.

Over the period under review, in the context of executing state guarantees of the Russian Federation, Vnesheconombank duly prepared 11 agreements on assignment of rights/claims in respect of 9 principals and registered the rights of the Russian Federation (the Russian Federation Ministry of Finance) under 31 real property pledge agreements (1182 facilities) and under 1 share pledge agreement.

In 2013, Vnesheconombank’s representatives participated in 94 court hearings concerning provision and execution of state guarantees of the Russian Federation.

Over 2013, the Bank verified the financial standing of 60 principals that were given the Russian Federation state guarantees.

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