On September 18, in the course of the 8th International Investment Forum “Sochi-2009” State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and RogSibal (LLC) entered into an Agreement on opening a credit line worth 2.15 billion rubles for a period of 8 years.
The Agreement was signed by Management Board Member – Vnesheconombank Deputy Chairman Anatoly Ballo, on behalf of RogSibal – by Deputy General Director Pavel Lebedev.
The funds are intended for financing the first stage of the Main Olympic Village construction.
The total value of the project is 27.7 billion rubles.
The project was included in the list of Olympic facilities in accordance with the Program of Olympic Facilities Construction and Development of the City of Sochi as a Mountain and Climatic Resort approved by the Order of the Russian Government.
Nine Olympic Facilities Construction Projects are under consideration by Vnesheconombank. Their total value is 150 billion rubles. Vnesheconombank is planned to provide more than 80 billion rubles to finance the construction of Olympic facilities. Now financing in the amount of more than 8 billion rubles has been opened for four projects.
The Main Olympic Village Construction Project provides for the comprehensive territory development in order to hold Olympic and Para Olympic Games in 2014 as well as the creation of a large-scale tourism and recreation facility including a hotel complex and other accommodation facilities and a wide range of infrastructure. The project is being implemented on a 62-hectar plot of land located in the Imeretinskaya low land of the Adler district in the city of Sochi.
Origin: 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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