27.06.2011. EBRD is considering to acquire an equity stake in European Pension Fund

The EBRD capital participation will provide promising NPF European Pension Fund with the means to establish a strong position in the nascent obligatory pension sector. This will foster competition, leading to improved levels of customer service and innovation in the area of investment management and retirement planning.

Moreover, the development of a thriving pension sector will contribute significantly to the Russian capital markets, as the growth of the private pension sector will stimulate demand for more sophisticated, longer-maturity capital market products and services. The investment will support a fund that already demonstrates above-average corporate governance and risk management practices, and the company is committed to further improvements. This will provide a strong demonstration effect for other market participants. 

According to Mr. Alexey Bulavin, Managing Director of European Pension Fund, the EBRD's participation in the development of the Fund will provide an additional impetus to further implementation of many business projects. "Our goal is to become one of the leaders in the market of obligatory pension savings. We are developing a number of client solicitation channels. An important part of this work is successful implementation of a federal program under which the European Pension Fund plans to open its separate subdivisions in the largest cities of Russia, – says Alexey Bulavin. – We also have a number of priority projects that require substantial financial investments, one of them – the launch of CRM, which has no analogues in the domestic pension market. Information security and personal data protection of our clients have always been a top priority for European Pension Fund, therefore, along with the expansion of product lines and developing of new sales channels we continue to invest in customer service and advanced technologies".

The EBRD Board of Directors will make the final decision on this matter at the meeting on July 26, 2011.

The European Bank for Reconstruction and Development, EBRD is an international financial institution established in 1991 to support market economy and democracy in 29 countries from central Europe to central Asia. The Bank is now owned by 61 countries and two international institutions. The supreme governing body of the Bank is the Board of Governors, to which each shareholder appoints its own governor, as a rule, the minister of finance. At the beginning of 2011 the Bank's equity capital is €30 billion.

The European Bank for Reconstruction and Development is the largest international investor in Russia: the total value of implemented projects is €50.6 billion. The priority areas for the EBRD are modernization, competitiveness and diversification of the real sector of Russian economy.

The Bank holds the highest possible ratings of AAA / Aaa from international rating agencies: Moody's, Standard & Poor's and Fitch Ratings. In all of its financial operations the EBRD follows the highest standards of corporate governance and sustainable development.

Altogether from 1991, the EBRD has allocated €178.8 billion for implementation of 3 119 projects in the countries of operations.

The European Bank for Reconstruction and Development also works with state companies to support their privatization and restructuring, as well as improvement of communal services. The EBRD uses its close relationship with the region’s state governments in order to implement the policy of creating a business-friendly environment.

Official website of the European Bank for Reconstruction and Development: www.ebrd.com