On Agreement between Vnesheconombank and the Government of the Karelian Republic

State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Government of the Karelian Republic signed an Agreement on Cooperation.

On behalf of Vnesheconombank the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and on behalf of the Government of the Karelian Republic - by Head of the Karelian Republic Sergei Katanandov.

The Agreement aims to establish strategic partnership and promote long-term and effective strategic cooperation between the parties in the investment activity.

Under the Agreement the parties intend to cooperate in raising funds to finance investment projects implemented among other things on the terms of public-private partnership.

The parties give high priority to projects aimed at developing energy and transport infrastructure as well as infrastructure of housing-communal services and agro-industrial complex. A list of investment projects is to be determined on the basis of the Strategy for Karelia’s Socio-Economic Development up to the Year 2020 as well as main lines of Vnesheconombank’s investment activity.

The implementation of this Agreement would encourage investment activity aimed at boosting Karelia’s socio-economic potential, supporting small and medium-sized enterprises and removing the region’s economic growth infrastructure restrictions.

Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-43, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

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