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Vnesheconombank and KfW agree to develop ecologically safe infrastructure in Russia

17 july 2013 года
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In the course of the International Conference “Sustainable Growth through Long-Term Investments” State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and KfW Banking Group signed a Memorandum of Understanding.

The Memorandum is designed to promote the development of the solid waste utilization sector in the Russian Federation based on the principles of environmental protection and increased ecology levels.

On behalf of Vnesheconombank the Memorandum was signed by Chairman Vladimir Dmitriev and on behalf of KfW Banking Group – by Chief Executive Director Ulrich Shröder.

The parties agreed to launch an Initiative on Modernizing Social Infrastructure. The Initiative will focus on investing funds in upgrading existing and/or building new urban and regional waste treatment systems.

Public companies and companies established on the principles of public private partnership (PPP) at municipal and regional levels are to become final beneficiaries. A mechanism for selecting projects as part of the Initiative is to be additionally agreed upon by the parties.

Under the Memorandum the parties agreed to share information of mutual interest as well as participate in selection and preparation of projects.

 

Press Office of Vnesheconombank
Phone: +7 (499) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru
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