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Pilot Financial Initiative

Invitation to interested financial institutions to a roundtable on the Pilot Financial Initiative - December,14, Stockholm

16.11.2012 Vnesheconombank and KfW Entered into a Credit Agreement under the Program of the Council of the Baltic Sea States

Memorandum of Understanding (MoU) was signed between the Permanent International Secretariat of the Council of the Baltic Sea States, KfW and Vnesheconombank back-to-back with the 9th Baltic Sea States Summit in Stralsund, Germany, 31 May 2012.

From the Council of the Baltic Sea States (CBSS) the Memorandum has been signed by Ian Lundin, Director General CBSS Secretariat, from KfW - by Stefan Opitz, general director of KfW Entwicklungsbank, from Vnesheconombank – by Mikhail Kopeikin, Board Member – Deputy Chairman.

Under the agreement the parties will promote cooperation in financing projects of small and medium-sized business, as well as public-private partnership in environmental protection, innovation, modernization and energy efficiency.

Implementation of the Memorandum will provide additional access to finance for innovative small and medium-sized enterprises, will provide significant opportunities for strengthening economic cooperation in the Baltic regions of the Russian Federation (St. Petersburg, Leningrad Region, Pskov Region, Novgorod Region, Kaliningrad Region).


Download the "Memorandum of Understanding between the Secretariat of the CBSS, Vnesheconombank and KfW" - (PDF / 155 kb)

Daniil 230 Download the Brief Minutes of the Opening Session of the Pilot Financial Initiative Steering Committee (DOC / 76,5 kb)

Download the PFI Presentation made at the 21st Baltic Sea Parliamentary Conference Saint Petersburg, Russian Federation, 26 – 28 August 2012 (PDF / 595 kb)

Download the PFI Presentation made at the First CSO Meeting under the Russian Presidency, Moscow Russian Federation, 19-20 September  2012 (PDF / 548 kb)


Daniil Algulyan

Elected Chairman of the PFI Steering Committee
Head of the KfW Representative Office in Moscow

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