Perm Territory and VEB.RF Discuss Cooperation in Urban Infrastructure Development
Perm hosted a meeting between the Perm Territory’s Governor Maxim Reshetnikov and VEB.RF’s Deputy Chairman Viacheslav Shulenin.
They discussed prospects for cooperation in urban environment development, such as the development of transport infrastructure in the Perm Territory, the creation of an innovation centre at the IT science park, Perm’s Smart Light project, the construction of a state-of-the-art campus for foreign students, property development projects and the Perm Territory’s industry diversification.
According to the governor, several large-scale projects meeting the needs of Perm and the Perm Territory for infrastructure development are under way or scheduled to be launched. “We have ambitious plans relating to, for instance, the use of smart technology in the urban environment. We have already evaluated the Smart Light project efficiency and are currently testing the Smart House and Smart City technologies. Definitely, support from such a reliable investor will help to accelerate the projects,” Maxim Reshetnikov commented.
VEB.RF’s Deputy Chairman Viacheslav Shulenin emphasised: “The development of a modern urban economy is one of the new strategic priorities for VEB.RF. We are aiming to foster reforms in the Russian cities with urban economy development at the top of the agenda. The Perm Territory has considerable potential for technology development. We can see a growing interest in the modernisation of urban transport infrastructure. We are ready to discuss joint projects on a repayable financing basis.”
As a reminder, the Perm Territory’s digital economy initiatives include the Smart City project, with pilot systems tested in the Liubimov District (Bereznyaki) and the Novye Liady District (Perm); the Smart Light and Safe School projects. Smart Light was tested in Popov Street (Perm) and showed a 40% reduction in energy consumption and a 42% decrease in operating costs. Modern security technology was introduced into seven educational institutions in the Proletarsky District (Perm) under the Safe School pilot project. Moreover, the Perm Territory introduced an intelligent transport model with automatic traffic enforcement cameras, which make it possible to predict and assess traffic conditions in order to address emergencies and organise a parking space. A whole range of information resources using navigation control systems were created: electronic displays at public transport stops, map.gortransperm.ru website, smartphone apps offered by private software designers. The comprehensive and step-by-step introduction of smart solutions in the Perm Territory’s urban infrastructure is expected to increase the safety level, cut the operational and utility costs, and improve the urban environment, transport accessibility and quality of life.
Igor Shuvalov: ‘Integration in Large Eurasia Will Make Us More Competitive’
VEB.RF’s Chairman Igor Shuvalov visited the People’s Republic of China. He took part in the meeting of the CEOs of SCO IBA member banks in Sanya. The meeting was aimed at promoting regional financial cooperation and inclusive development. The event was also attended by top managers of global financial institutions (New Development Bank, Asian Infrastructure Investment Bank), senior executives of Silk Road Fund, representatives of the Chinese Government, and leading economists and experts.
Igor Shuvalov noted in his speech that the Shanghai Cooperation Organisation was an effective platform to synchronise national development strategies and multilateral projects and integrate the Eurasian Economic Union, the Belt and Road Initiative and the North-South Transport Corridor.
He emphasised: “The SCO is a unique organisation, with its member countries’ total population exceeding 3 billion people (40% of the global population) and its total GDP (PPP) approximating to 30% of global GDP.” According to Igor Shuvalov, the SCO is a solid organisation with enormous political potential; therefore, it requires facilitated economic development, which involves close cooperation among financial institutions.
VEB.RF’s Chairman also mentioned the currency risk problem faced by development banks. He emphasised the necessity to identify new instruments so as not to cause further difficulties for banks’ borrowers and customers. “We need to broaden the range of currencies used in interbank cooperation and to make extensive use of national currencies in mutual settlements. We should treat the currency risk as a common problem confronting all development institutions,” he said.
Igor Shuvalov informed the partners about the key transformation areas and broader powers of VEB.RF aimed at implementing the May presidential decree: “There will be plenty of opportunity for development institutions to coordinate their activities, including in the urban environment and municipal economy. VEB.RF will work together with commercial banks in all existing sectors of cooperation to accomplish the goals of national development.”
During the visit, Igor Shuvalov met with CDB’s Chairman Zhao Huan, the SCO’s Secretary-General Vladimir Norov and Belarusbank’s Chairman Victor Ananich.
During an official visit of Russian President Vladimir Putin to China, Vnesheconombank and China Development Bank signed an agreement in Beijing in June 2018 to financially support the integration of the Eurasian Economic Union and China’s Belt and Road Initiative. In September 2018, during the Eastern Economic Forum, the two banks signed a loan agreement to finance joint projects. According to VEB’s Chairman, several large-scale projects are currently being evaluated under the loan agreement.