OREANDA-NEWS. A ceremony to award the Foreign Ministry's Badge 'For Contribution to International Cooperation' to Vnesheconombank Deputy Chairman - Member of the Board Alexandr Ivanov, Vnesheconombank Deputy Chairman - Member of the Board Mikhail kpeikin and Director of Vnesheconombank's Export Financing Department Daniil Algulyan was held at the Foreign Ministry.

First Russian Deputy Foreign Minister Vladimir Titov presented the awards.

In accordance with the order of Russian Foreign Minister Sergei Lavrov dated June 26, 2013 representatives of Vnesheconombank received the award for their contribution to establishing and enhancing a Pilot Financial Initiative of the Council of the Baltic Sea States as part of Russia's Presidency in this institution in 2012-2013.

The Pilot Financial Initiative of the Council of the Baltic Sea States is a mechanism for funding projects aimed at sustainable economic development and cooperation, sharing scientific and technical expertise as well as at boosting the Council member states' investments efficiency and implementing sub-regional programs.

Vnesheconombank regards the Pilot Financial Initiative as a form of foreign economic activity designed to create favorable conditions for implementing the Strategy of the North-Western Federal District's Socio-Economic Development for a Period of up to 2020. The Strategy was approved by the Government of the Russian Federation.

The Council of the Baltic Sea States (CBSS) was established in 1992 in Copenhagen as an informal regional political forum, which main aim is to promote integration process and to affiliate close contacts between the countries of the region. The members of CBSS are Denmark, Estonia, Finland, Germany, Iceland, Latvia, Lithuania, Norway, Poland, Russia, Sweden and European Commission.