Vnesheconombank’s Supervisory Board Regular Meeting Held

Russian Prime Minister v. V Putin Conducts a Meeting of State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ Supervisory Board
v. V Putin’s Opening Address

Good afternoon, Esteemed Colleagues!

Recently we have repeatedly discussed one and the same issue: how can we save state financial resources if we finance directly from the budget? How can we establish control over price growth? We have discussed this issue especially in connection with implementing major infrastructure projects, construction projects such as the construction of Olympic facilities and infrastructure facilities in the Far East in the course of preparations for an Asian-Pacific Economic Summit and for Summer Student Games in Kazan.

The issue is also fully related to projects financed with Vnesheconombank’s funds. And there are quite a few such projects. Here we should use the best world standards in engineering and project management.

In accordance with general practice, a proposal is being made to establish a specialized institution in cooperation with a leading world company. This institution is to be responsible for examining project documentation, monitoring the construction progress and if necessary for taking measurers against inappropriate and ineffective expenditure of funds.

We’ll also discuss today a number of investment projects and talk about the Bank’s day-to-day operation.

Let’s get started with our work.
Origin: Internet-Portal of the Government of the Russian Federation

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