Today, on April 9, Vnesheconombank and ZAO INTER RAO UES signed an Agreement on General Principles of Financing Projects in power engineering.
The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and by INTER RAO UES General Director Evgeny Dod.
The Agreement aims to establish strategic partnership and promote long-term, effective and mutually beneficial cooperation in financing projects carried out with direct participation of INTER RAO UES.
Under the Agreement Vnesheconombank and ZAO INTER RAO UES are determined to jointly carry out projects to purchase, modernize and build power engineering facilities both on the CIS countries’ territory and in other countries. In doing this, Vnesheconombank will act as a bank responsible for funding these projects and providing consulting services on optimizing economic and financial management of facilities to be purchased and built.
The Agreement is of great practical importance as Vnesheconombank’s participation in projects carried out by INTER RAO UES will make it possible to raise more funds to finance power engineering facilities and strengthen the Bank’s position in the Interbank Association of the Shaghai Cooperation Organization (SCO).
Furthermore, the new Agreement seeks to promote Russian companies’ economic interests abroad including in CIS and SCO coutries.
Vnesheconombank tends to act as a partner of Russian companies in carrying out projects with complicated financing structure and long payback periods abroad.
ZAO INTER RAO UES is a vertically integrated power engineering company. The Company controls a number of power generating and distributing assets in Russia and abroad and is active in doing investment business. It plays a dominant role in exporting an importing electrical energy. ZAO INTER RAO UES represents the interests of the two largest players in the Russian energy sector, namely, RAO UES of Russia and Rosenergoatom, Concern, Federal State Unitary Company.
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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