On Signing Agreement between Vnesheconombank and the State Company Russian Highways

17 september 2010 года
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As part of the 9th Sochi-2010 International Investment Forum, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the State Company Russian Highways signed a Memorandum of Understanding and Cooperation.

On behalf of Vnesheconombank the Memorandum was signed by Management Board Member, Vnesheconombank Deputy Chairman Anatoly Ballo, on behalf of the State Company – by Board of Directors First Deputy Chairman Sergei Kelbakh.

The Memorandum, concluded for a period of five years, aims to establish and to further promote mid-term strategic business partnership in the investment activity.

The Memorandum provides for the parties to jointly implement investment projects in the infrastructure sector on the principles of public private partnership, cooperate in the field of investment activity strategic planning, and ensure the development and application of innovative methods and technologies in implementing joint projects.

Specifically, the parties plan to cooperate in the following main lines of activity:

  • planning and development of mechanisms for implementing investment projects on the principles of public private partnership and requirements for assessing their financial and budget efficiency;
  • arrangements for financing projects selected by the parties with raising various types of borrowed funds including bond issues and bank credits;
  • providing security in the form of bank guarantees and counter-guarantees for investment agreements to be made including concession agreements;
  • developing a concept for forming and running the State Company’s reserve fund.

The parties are to cooperate on the basis of mutual benefit and trust.

 

Press Office of Vnesheconombank
Russia 107996, Moscow, Academician Sakharov Avenue, 9
Phone: +7(495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

Press Office of State Company Avtodor
109074, Moscow, Slavyanskaya square, 2/5/4, building 3
Phone: +7 (495) 784-68-80, Fax: +7(495) 784-68-04
E-mail: V.Korshkov@russianhighways.ru


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