Vnesheconombank and OJSC Voda Rostova (Rostov Water) Sign Credit Agreement

Today, on March 31, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and OJSC Voda Rostova (Rostov Water) entered into an Agreement to extend a credit line worth 4.5 billion rubles for a period of 14 years.

The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and OJSC Voda Rostova General Director Sergei Yashechkin.

Under the Agreement funds to be made available within the credit line will be used to finance a project “Comprehensive Program of Building and Reconstruction of Water Supply and Water Drainage Facilities” in the city of Rostov-on-Don within a public private partnership scheme with the participation of the Rostov region Administration and the Rostov-on-Don Administration.

The total value of the comprehensive program is about is 42.9 billion rubles.

The project was approved for co-financing through using the Russian Investment Fund’s resources by the Government Commission.

The program of national importance provides for building a communal infrastructure that would make it possible to build 12.6 million square meters of housing.

The implementation of the Agreement is aimed at improving the water supply system in the city of Rostov-on-Don and the South-West of the Rostov region, creating conditions for developing town building of the largest agglomeration in the South of Russia as well as alleviating ecological problems in the Azov-Black Sea basin.

The Credit Agreement was made to build on the Agreement on Cooperation in Reconstructing and Developing the Communal Infrastructure signed earlier with OJSC Eurasian.

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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