Irina Makieva, Deputy Chairman at Vnesheconombank: “Coordinating support measures at all levels drives an integrated approach to territorial development”
Participants of the round table on Project Financing in the Russian Regions, held as part of the Day of the Republic of Chuvashia in Cheboksary, have discussed the coordination of government support for single-industry towns (monotowns) and an integrated approach to territorial development.
During the event the participants have examined matters related to government support, as well as projects implemented through project financing, syndicated lending, and public private partnerships.
Irina Makieva, Deputy Chairman at Vnesheconombank and Head of the Integrated Development of Single-Industry Towns programme, said that the Programme helped coordinate a range of government support measures, including for priority projects at the federal, regional, and municipal levels. “To adopt an integrated approach, we brought together all possible measures of support totalling 103. Most of them (46) are provided by the Russian Ministry of Industry and Trade,” she noted. “It is important to engage development institutions and combine the forces of all institutions.”
Irina Makieva has also underlined that improving the use of support measures requires the necessary knowledge and skills. “The Monotowns Development Fund has launched an Academy of Monotowns, an educational project where we coach management teams and provide them with new knowledge and technologies to work with resources that can be drawn at different levels,” she said.
The round table has also been attended by Chairman of the Committee of the State Duma for the Financial Market, Anatoly Aksakov; Deputy Minister of Industry and Trade of the Russian Federation, Aleksandr Morozov; Deputy Minister of Economic Development of the Russian Federation, Ilya Torosov; CEO at SME Corporation, Aleksandr Braverman; CEO at the Monotowns Development Fund, Ilya Krivogov, and representatives of major Russian banks.
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VEB opens a USD30m credit facility to support exports of Russian railway products to the Republic of Belarus
Vnesheconombank and Belarusbank have signed a USD30m credit facility agreement. The loan proceeds will be used to purchase Russian railway products.
Vnesheconombank has provided the loan to Belarusbank to finance the cost of Russian rails and railway switches for the Belarusian Railway.
“Supporting non-commodity exports is a strategic area of operation for Vnesheconombank. We operate both in the new markets of the South-East Asia, Africa, and Latin America, and in the traditional markets, such as C.I.S. Promoting the supplies of railway products to the Republic of Belarus will also enhance the integration processes in Eurasia,” noted Daniil Algulyan, Senior Vice President and Head of International Business, Exports, and Financial Institutions at Vnesheconombank.
“This joint investment project supported by our Russian colleagues is essential for both our VIP customer, Belarusian Railway, and for the economy of Belarus on the whole,” said Viktor Perepelitsa, Deputy Chairman of the Management Board at Belarusbank. “We highly value the trust of our business partners.”
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