OREANDA-NEWS. According to the 2014 National Procurement Transparency Rating, State Corporation 'Bank for Development and Foreign Economic Affairs (Vnesheconombank)' was given first place in the category "High Transparency" among customers placing orders under Federal Law № 223-FZ.

Vnesheconombank received relevant certificate that certifies its high transparency in the corporate procurement sector. In order to evaluate procurers placing orders under Federal Law № 223-FZ, they used data on the extent of a company's information disclosure and due process with regard to its procurement activity including availability of information on rules for conducting procedures, scheduled procurements, forthcoming tenders and concluded contracts on the participant's official site and other open sources as well as data on the extent of using competitive procedures.

As compared to the 2013 rating, Vnesheconombank showeda significant procurement transparency growth dynamics: last year the Bank for Development took second place in the category "Median Transparency" among the largest state-run companies.

As part of upgrading its procurement activity, VEB established during the said period an independent subdivision responsible for organizing procurement activity at Vnesheconombank, reviewed the structure of procurements and increased the proportion of competitive procedures in the total number of procurements; the number of procurements in electronic format was significantly increased.

The National Procurement Transparency Rating is an annual project of the National Association of E-Trade Participants. The rating has been held since 2005 with the assistance of the Federal Anti-Monopoly Service (FAS), the Economic Development Ministry,the Russian Audit Chamber, the Russian Commerce and Industry Chamber,relevant committees of the State Duma.

The object of the study is the Russian market for government and commercial procurements, it is designed to produce transparency rating among executive authorities, regional and municipal customers as well as the largest state-run and private companies.