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Signing a Memorandum on Cooperation with the Federal Housing Construction Development Fund

21 july 2010 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Federal Housing Construction Development Fund signed a Memorandum on Cooperation in order to confirm the possibility of Vnesheconombank’s participation in working out a scheme for financing the construction of engineering and social infrastructure facilities and in making capital investments in construction carried out as part of measures to promote housing construction in implementing projects of the Federal Housing Construction Development Fund.

On behalf of Vnesheconombank the Memorandum was signed by Vnesheconombank Chairman Vladimir Dmitriev, on behalf of the Federal Housing Construction Development Fund – by its General Director Alexandr Braverman.

Under the Memorandum signed, the parties intend to promote all-round cooperation and consider the possibility of their joint participation in implementing projects aimed at providing the Fund’s building estates with engineering and social infrastructure including pilot projects too.

The Memorandum provides for cooperation between the parties in the following fields: analyzing and developing schemes for implementing projects based on public private partnership mechanisms, gathering of macroeconomic, legal and financial and credit information that might influence the implementation of projects, assessment and comprehensive analysis of project risks.

The Memorandum’s implementation would promote the development of public private partnership mechanisms as an effective form of cooperation between the state and private sector in financing large-scale comprehensive housing development projects in the Russian Federation.

 

State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ was established subject to the Russian Federal Law “On the Bank for Development” by way of reorganizing Vnesheconombank of the USSR in 2007. The Bank for Development is a key instrument for pursuing the government economic policy aimed at removing economic growth infrastructure restrictions, boosting natural resources utilization efficiency, developing high-technology industries, unlocking innovation and production potential of small and medium-sized enterprises, providing support for industrial exports and services.

The Federal Housing Construction Development Fund was established subject to Federal Law dated July 24, 2008 №161-FZ. The Fund’s activity is designed to promote the development of housing construction and other forms of territory development as well as the development of engineering infrastructure facilities (including communications infrastructure facilities) social infrastructure facilities, construction materials production facilities, housing building structures. The Fund’s activity is also aimed at providing assistance in building industrial parks, technoparks, and business incubators in order to create a favorable environment for man and society including safe and favorable living conditions for all categories of citizens.

 

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


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