Open Joint Stock Company (OJSC) North Caucasus Development Corporation was founded by the state-owned Vnesheconombank (VEB, Bank for Development and Foreign Trade), which holds 100% of its share capital.


Vnesheconombank in brief:


Headquarters: Moscow


Year of incorporation: 1922 (original name – Russian Commercial Bank)


Regulatory documentation: Federal Law "On Development Bank" № 82-ФЗ as of 17 May 2007 and Financial Policy Memorandum as of 27 July 2007 № 1007-р.


Chairman of the Supervisory Board –Dmitriy Anatolyevich Medvedev, Prime Minister of the Russian Federation.


Chairman – Vladimir Alexandrovich Dmitriev.



State Corporation ‘Bank for Development and Foreign Economic Activities (Vnesheconombank)' aims to diversify the Russian economy, boost its competitive edge and encourage investment activity.


Bank for Development is a key instrument of the governmental economic policy, aimed at eliminating the infrastructure constraints for economic growth, increasing the efficiency of natural resources utilization, developing high technology industries, releasing the innovative and production potential of small and medium business and supporting the exports of industrial products and services.


Vnesheconombank participates in the investment projects that are strategic for the country's economic development but are not sufficiently funded by the private sector due to their scale, complexity and lengthy payback periods.


The main industry priorities of Vnesheconombank:

  • airspace industry;

  • shipbuilding;

  • electronic industry;

  • nuclear industry, including nuclear power generation and engineering;

  • heavy mechanical engineering (transportation, power and specialist equipment);

  • mining and metals, including special steels and alloys;

  • timber and forest products;

  • defense industries;

  • agriculture.