In the course of the 16th Petersburg International Economic Forum Sate Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ announced the institution of the Development Award. The Award is to be presented to legal entities for outstanding achievements in implementing nationally significant investment programs and projects.
The Development Award is of national significance. It is to be presented annually by Russia’s President at the Petersburg Annual International Economic Summit. Within a year the Bank is to consider applications submitted by candidates for the Award. Vnesheconombank’s Supervisory Board headed by the Russian Prime Minister is to approve laureates.
The contest is designed to encourage investment activity and boost Russia’s investment appeal as well as address socio-economic objectives in modernizing the Russian economy through selecting top-quality nominee projects.
Under the Contest’s concept laureates are to be selected in the following nominations: the best infrastructure project, the best project in industrial sectors, the best project in comprehensive development of territories and the best project of small and medium-sized enterprises. The Contest’s winners are to be presented with a numbered diploma and a Development Award laureate’s badge.
The Development Award is designed to:
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select legal and natural entities – company executives who are instrumental in developing and implementing new investment projects;
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spread best practices in project analysis, business plans preparation, structuring and financing investment projects , project risks management, advanced project monitoring technologies;
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present achievements in implementing large-scale Russian investment projects on a national and international level;
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assist in introducing advanced project analysis, project finance and project management methods in various sectors of the Russian economy;
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upgrading professional competence of Russian specialists in investment activity related to developing and implementing major investment projects.
Regulations on the Development Award Contest were approved by Vnesheconombank’s Supervisory Board, information on the Contest’s terms and conditions and requirements to its participants is soon to be posted at Vnesheconombank’s site.
Press Office of Vnesheconombank
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru
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