ANNOUNCEMENT 29 Nov 2012In November 2012, the government of the Russian Federation announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
29 2012 . 1233
On 29 November 2012, the Russian Government provided state guarantees at the amount of USD 10 billion with maturity 31 December 2032 to the state corporation Bank for Development and Foreign Economic Affairs (VEB) through Decree Nr. 1233. The purpose of the quarantees is to secure the obligations of the Russian Agency for Export Credit Insurance and Investment for insurance contracts related to export credits and investments.
VEB is used in state operations for support of the Russian economy and for management of Russian state debts and pension funds.