A socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events.

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5,000 people working in Russia and abroad.

The Foundation works alongside various UN departments and other international organizations, and is building multi-format cooperation with 173 economic partners, including industrialists’ and entrepreneurs’ unions, financial, trade, and business associations from 78 countries worldwide, and 188 Russian public organizations, federal and legislative agencies, and federal subjects.

The Roscongress Foundation has Telegram channels in Russian t.me/Roscongress, English – t.me/RoscongressDirect, and Spanish t.me/RoscongressEsp. Official website and Information and Analytical System of the Roscongress Foundation: roscongress.org.

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Sergey Storchak

Sergey Storchak

Senior Banker, VEB.RF
Quotes
06.09.2022
EEF 2022
The Role of the SCO in a Changing World
The SCO is a product of political cooperation or cooperation on the security track, an organization of security and mutual respect. In this sense, economic cooperation and cooperation in the financial sector are lagging elements of this interaction. The IBO was created in order to push this interaction
06.09.2022
EEF 2022
The Role of the SCO in a Changing World
The system of international financial relations, which was formed in the post-war period, adjusted during the first and second oil shocks, which served globalization over the past 40 years, is being destroyed. This world is changing as a result of the well-known actions of our partners in the global economy... Some part of this global financial system needs to be rebuilt. Most likely, it will not be possible to rebuild all of it. But what we call the Eurasian space, the Eurasian partnership or the Shanghai Cooperation Organization, the big Eurasian partnership – here, apparently, these new mechanisms will appear, since there is a great demand for them to start functioning here. Maybe not a parallel system, partly linked to the existing international monetary and financial system, but still working to suit the economies of this region. Especially given that these economies are beginning to dominate the world
06.09.2022
EEF 2022
The Role of the SCO in a Changing World
The green financing and green economy agenda remains in force, despite the fact that it seems to have come from the West, Western partners dominate there in terms of carbon quotas, green taxonomies. The SCO IBO (Interbank Association – ed.) found out that by the end of the year, the China Development Bank and its counterpart from Pakistan, Habib Bank, are concluding a special agreement on the procedure for admitting Pakistani firms to the Chinese domestic market in order to provide green financing. It is an interesting step that has no analogues here in the Eurasian space. We agreed that if the final document is signed, this document will be shared with us
06.09.2022
EEF 2022
Russia – India
I see great promise in launching a roadmap for the Shanghai Cooperation Organisation. In just over a week, I hope this roadmap will be approved by the heads of state and government at the next summit. Within the framework of this interaction, we will have a better chance to build a system of relations, rather than point projects, one-off solutions. <...> There is a big bet on the internationalization of the Chinese yuan. This currency, with due attention from the Chinese authorities and the willingness of Chinese partners, will also be used in Russian-Indian relations. However, the flagship project is the use of the Russian rouble
16.06.2022
SPIEF 2022
BRICS: Deepening Trade and Economic Cooperation
The question of having our own rating agency has really come to the fore. If the regulators move in this direction, believe me, banks belonging to the MIC [MIC BRICS, the Mechanism for Inter-bank Cooperation – Ed.] would, of course, willing join in and to their best to help. But help can involve not only creating a new structure but also in the sense of launching mutual recognition of the ratings awarded by our leading rating agencies in each jurisdiction. This is crucial as a first step in seeing where our methodologies and assessments coincide
16.06.2022
SPIEF 2022
BRICS: Deepening Trade and Economic Cooperation
The existing global international currency and financial system clearly demonstrates considerable imbalance and unfairness. Twelve years ago, attempts were made during the year of the French chairmanship of the G20 to drive change in this sphere but without success. The developed countries do not want to take the interests of the developing markets into account, to say nothing of the developing countries. It seems to me that the BRICS forum platform should be the launch pad for moving in the direction if not of an alternative global international currency and financial system than at least a parallel on that would take greater account of the interests of the big economies on the developing markets
16.06.2022
SPIEF 2022
The New SCO Business Agenda in Today’s World
It is interesting that we’ve turned out to be very capable at negotiating at the SCO Interbank Consortium – a rarity for an association with such a diverse set of members. For example, we approved a document entitled “Framework Principles on Financial Interaction and Cooperation of SCO IBC Member Banks”. Its first few clauses contain commitments related to the opening of correspondent accounts — one of the most complex and sensitive topics in the current development of the global economy, and not only for our association
04.06.2021
SPIEF 2021
Multilateral Development Banks in the Post-COVID Era: Old Challenges and New Opportunities
Perhaps, many have already felt <…> the liquidity that central banks [injected, Ed.] into the system. No doubt, at first [it, Ed.] was helpful. Then it expanded to stock markets. Stock indices began surging in September. Now this money is going to commodities and food products. So <…> we are yet to feel these consequences,
04.06.2021
SPIEF 2021
Multilateral Development Banks in the Post-COVID Era: Old Challenges and New Opportunities
The response of both national and multilateral development banks to COVID consequences was impressive. <…> In my opinion, development banks’ reaction to COVID effects was faster, and as far as financing is concerned, its pace was even higher than that of governments,
03.06.2021
SPIEF 2021
Taking Stock and Broadening Horizons for New Economic Partnerships in the SCO
The idea of having a specific list of potential projects for co-financing has stalled. […] The problem is identifying cost-effective projects. […] It’s also difficult involving projects in which the potential of several institutions can be utilized at once. There is money, but its effective use in terms of its return and payback period – those are the big questions here
24.10.2019
Russia- Africa Economic Forum 2019
Biosecurity: Current Projects and Opportunities for Cooperation
We are gradually establishing cooperation in terms of such a particular source of financing for biosecurity projects as using the outstanding debt that we kept after a significant debt relief for a fairly large number of African countries. <…> Debt-for-aid projects are going well with the Republic of Madagascar. We have reached a certain progress in our work with Tanzania and Mozambique, though there are problems there
24.10.2019
Russia- Africa Economic Forum 2019
Biosecurity: Current Projects and Opportunities for Cooperation
Multilateral efforts will not be interrupted, yet a bigger emphasis will be put bilateral relations with respect to the experience Ms. Popova’s [Anna Popova, Head, Federal Service for Surveillance on Consumer Rights Protection and Human Wellbeing (Rospotrebnadzor), – Ed.] Service has, because it fits our national interests and priorities and, of course, our partners’ interests
25.05.2018
SPIEF 2018
Economic Protectionism and Global Markets
The largest type of threat that exists today <…> it stems from restrictions on financial markets
25.05.2018
SPIEF 2018
Economic Protectionism and Global Markets
The relationship between global commerce and global debt exists. <...> If we have trade restrictions, how will the countries receive the currency to pay the debt.<...> In the OECD, the sovereign debt is USD 3 trillion, half of it is the US commitment