Vnesheconombank Concludes Agreements on Forming Concession Projects to Develop Communal Services Infrastructure
In the course of the 15th Petersburg International Economic Forum, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ entered into agreements with the administrations of the Krasnoyarsk Territory, Saratov, Sverdlovsk regions on cooperation under concession projects aimed at modernizing and developing heat, water supply and sewage systems of a number of municipalities in these regions. Concession projects are being prepared in line with operations plan of the working group under the Russian Government on improving the regulatory environment and investment climate in the housing and communal services infrastructure. The group is headed First Deputy Prime Minister Igor Shuvalov. The said activity is designed to work out mechanisms for raising non-budgetary investments for the housing and communal services sector.
According to the plans, under the agreements concluded, long-term investment programs of modernizing and developing infrastructure are to be substantiated, draft contract, bid and other regulatory documents are to be drawn up. In order to encourage competition talks are to be held to engage companies to participate in tenders and financial institutions to finance projects. Results of preparing projects are to be submitted to municipalities for them to use them in holding concession tenders. The federal regulatory legal framework is to be rapidly upgraded with due regard to experience in preparing tenders and raising investments.
The parties are to cooperate with the use of Vnesheconombank’s instruments for providing financial assistance in preparing regional and urban development projects and in line with Russian Government Order № 1372-r, dated August 17, 2010 on appointing Vnesheconombank as sole provider of investment consulting services in the interests of the Russian constituent entity’s state needs for forming investment projects on PPP terms and under Federal Law dated July 21, 2005 № 115-FZ “On Concession Agreements”.
Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-48-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru
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