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Memorandum of Understanding on Investing Funds in Macquarie Renaissance Infrastructure Fund (MRIF)

7 june 2008 года
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Today on June 7, in the course of the 22nd Petersburg International Economic Forum, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, the Eurasian Development Bank (EDB), Kazyna Capital Management, Renaissance Capital Holding Limited and Macquarie Group Limited signed a Memorandum of Understanding.

The Memorandum enshrines intentions of Vnesheconombank, the EBD, and Kazyna Capital Management to invest funds in the joint investment fund – the Macquarie Renaissance Infrastructure Fund (MRIF).

The Fund’s original amount would range from1to 1.5 billion US dollars. Vnesheconombank’s participation is planned to be 200 million US dollars, the Eurasian Bank’s participation – up to 200 million US dollars and Kazyna’s participation – 100 million US dollars.

Under the Memorandum the Fund plans to make portfolio investments in infrastructure projects on the CIS countries’ territory, with the share of investments in projects implemented in Russia’s territory being no less than 50%. The Fund would finance projects aimed at removing economic growth infrastructure restrictions including projects in energy and transport infrastructure, housing and communal services infrastructure as well as projects aimed at developing innovations, boosting natural resources utilization efficiency, improving ecological situation.

The signing of the Memorandum would promote cooperation in financing infrastructure projects. Terms of Vnesheconombank’s participation in the Fund and its participation amount are to be considered in the near future by Vnsheconombank’s collective management bodies.

The Eurasian Development Bank is to go through the similar procedure in the Bank’s Council incorporating authorized representatives of founder countries – the Russian Federation and the Republic of Kazakhstan.

 

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


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