ADFIAP Board approves Board seat for Russia’s Vnesheconombank

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logoblock_full_eng_blue-[Converted]The ADFIAP Board, in its meeting on December 3, 2013 in Manila, Philippines, has approved the endorsement to the General Assembly of a Board seat for the Vnesheconombank (VEB) representing Russia. Under the ADFIAP Constitution, the ADFIAP Board of Directors is to be composed of not more than (30) members from voting members of good standing in the Association. Currently, there are 22 members of the Board.

VEB has been an active member, participating in various activities of the Association since it joined ADFIAP in 2007. VEB will be hosting ADFIAP’s 37th Annual Meetings on April 23-25, 2014 in Moscow. VEB operates to diversify the Russian economy, boost its competitive edge and encourage investment activity. The “Bank for Development” is responsible for providing investment, foreign economic, insurance and consultative support for projects in Russia and abroad, aimed at developing infrastructure, innovations, special economic zones, environment protection, providing support for exports of Russian products, works and services as well as supporting small and medium-sized enterprises.

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