Agreement between Vnesheconombank, Russian Transportation Ministry and Krasnodar Region Administration Signed

Today,on September 22, in the course of the Fourth International Investment Forum “Sochi 2007” the State Corporation “The Bank for Development and Foreign Economic Affairs (Vnesheconombank)”, the Russian Transportation Ministry and the Krasnodar region Administration signed an Agreement on Cooperation in carrying out transportation development projects on the territory of the Krasnodar region implemented within private public partnership.

The Agreement aims to establish long-term and effective cooperation in working out mechanisms and schemes for financing projects in the transportation infrastructure development on the territory of the Krasnodar region implemented within public private partnership. This involves, among other things, the project to design and build a toll motorway “Krasnodar-Abinsk-Kabardinka with a total length of 147.4 kilometers and a total investment requirement in the amount of at least 117 billion rubles.

Implementation of the Agreement would boost theKrasnodar region’s socio-economic development, help build modern transportation infrastructure, improve the environmental situation in the region and promote the development of tourist and resort areas.

Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 208-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru

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