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Vice President of Ex-Im Bank Raymond Ellis met with representatives of Russian banking sector, companies and RSPP management Monday at the RSPP headquarter. As noted by RSPP managing director for international cooperation Mr. Andrey Kuznetsov, Russia – U. S. economic relations possess great potential which has largely remained untapped, while Ex-Im Bank can offer mechanisms that may help inject fresh momentum into those relations. The proposals to established dedicated bilateral mechanisms supporting Russian - American joint projects have been repeatedly voiced at the yearly RSPP Russia – U. S. Roundtables in St. Petersburg. WTO accession and the establishment of the Unified Economic Space with Belarus and Kazakhstan will, according to Mr Kuznetsov, open up ambitious possibilities for joint initiatives.
Мaria Glukhova, RSPP Managing Director for economic policies and competitiveness presented the results of a poll asking Russian companies’ views on business and investment climate in the country.
According to Mr. Ellis, his very arrival in Russia is a clear sign that the strategies of the bank have taken a completely new turn. At the International Economic Forum in St. Petersburg Ex-Im Bank and Russia’s SberBank signed a memo of understanding earmarking $1 billion for bilateral projects.
Ex-Im Bank’s main purpose, Mr. Ellis stressed, is to push forward U.S. export in order to create jobs in the USA.
To date, sectors qualified for immediate support from Ex-Im Bank include aerospace and aerotronics, industrial equipment, heavy engineering, oil & gas and energy efficiency.
Mr. Ellis also told about the bank’s financial support mechanisms and gave a brief analysis and calculations of procedures required.
Representatives of the Russian banks and companies VTB Bank, VTB Leasing, Mechel and Rusal had an opportunity to ask question about forms of lending available, methods of interest calculation, requirements applying to loan recipients, equipment shipping etc.