Vnesheconombank, the Federal Project Finance Center (FPFC), Avtodor and the Finance University join forces to train specialists in the field of PPP

The Federal Project Finance Center (Vnesheconombank Group), State Company Russian Automobile Roads (SC Avtodor) and the Finance University under the Government of the Russian Federation signed agreements on their joint activity on training specialists in public private partnership.

The agreementswere signed by Head of the University Mikhail Eskindarov, SC Avtodor Board Chairman Sergei Kelbach, OJSC FPFC Director General AlexandrBazhenov in the presence of Vnesheconombank’s Chairman–Head of Department “Public Private Partnership” of the Finance University Vladimir Dmitriev.

The agreements provides for the further development of the basic Department “Public Private Partnership”, created by Vnesheconombank in 2010 at the Finance University. Specifically, cooperation will make it possible to join forces and intellectual capitalof the largest players in the market for PPP projects in order to train highly qualified personnel to successfully implement PPP projects. FPFC involved in preparing projects of regional and urban development for them to be later on implemented with the use of non-budgetary investments is to be responsible for the content of the PPP Department’s educational, scientific and research activities. Business experience gained by State Company Russian Automobile Roads in applying PPP mechanisms will make it possible to engage highly qualified specialists in road infrastructurefor the PPP Department’s teaching and research activities, create an additional base for students of the PPP Department to do practical training as well as implement sectoral educational and research projects.

Brief overview of the participants

The Bank for Development operates to enhance competitiveness of the Russian economy, diversify it and stimulate investment activity. VEB does not compete with commercial credit institutions and participates only in those projects that cannot receive funding from private investors. Vnesheconombank is responsible for funding major investment projects designed to remove economic growth infrastructure restrictions.

The Finance University under the Government of the Russian Federation (Finance University) is a Federal State Budgetary Educational Institution of Higher Professional Education. It is one of the country’s leading universities. It implements 13 lines of bachelor’s degree training (22 training profiles), 11 lines of master’s degree training (47 master’s degree programs). (9 basic educational programs of secondary vocational education as well as 10 MBA programs and 108 retraining and refresher course programs for specialists.

The Public Private Partnership Department was established in 2010 on the basis of the Finance University on the initiative of State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, in March of 2012, the Department was given basic status. The Department is headed by Vnesheconombank Chairman V.A. Dmitriev.The PPP Department’s activity is designed to expand the range of educational programs related to public private partnership, training, retraining, professional development of managers and specialists in the field of PPP, doing research in order to provide support for developing PPP in the Russian Federation.

OJSC the Federal Project Finance Center (FPFC) is 100% subsidiary of State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and is a member of Vnesheconombank. FPFC provides financial and expert support in preparing projects of regional and urban development, the implementation of which is planned with the use of non-budgetary investments as well as on the terms of public private partnership.

State Company Russian Automobile Roads was established by Federal Law № 145-FZ. Its mission is to form up an infrastructure basis for modernizing the economy, transfer to innovative (post-industrial society development model), reduce budgetary expenses by way of boosting efficiency of road activities, form up a non-budgetary basis for funding the sector, carry out a comprehensive structural reform of the road sector and the Russian economy as a whole through improving management, creating new markets and new forms of economic activity. The State Company is actively using PPP mechanisms in the road sector, which is of primary importance for our country and it plans to organize more than 20 projects in the total amount of 1, 447 billion rubles until 2020.

Press Office of Vnesheconombank
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru