VEB.RF to Provide Chelyabinsk Region With New Environmentally Friendly Buses and Trams
During the St. Petersburg International Economic Forum 2019, VEB.RF’s Chairman Igor Shuvalov and Chelyabinsk Region’s Alternate Governor Alexey Teksler signed a cooperation agreement. The parties agreed to cooperate on projects to upgrade urban public transport in Chelyabinsk Region.
VEB.RF is ready to involve in investment projects aimed to modernise the tram and bus networks in Chelyabinsk, Zlatoust and Magnotogorsk. VEB.RF will use its leasing mechanisms to help renew the tram and bus fleet and to finance the delivery of modern LNG fuelled buses.
VEB.RF’s Chairman Igor Shuvalov said: “Upgrading the transport network in Russian cities is part of a large-scale agenda for the development of a modern urban economy. A comprehensive approach to the transport system modernisation in urban agglomerations will help to enhance the quality of life, improve public transport links between and within cities and other settlements, and deliver environmental improvements.”
“The cooperation agreement offers Chelyabinsk Region new opportunities for upgrading the urban transport systems. This is particularly important for Chelyabinsk urban agglomeration with a population over 1.5 million and an outdated public transport system. We need integrated concept solutions for interconnecting urban public transport systems. VEB.RF as a state development corporation has valuable experience in developing transport systems and may put forward its detailed proposals. I hope that the agreement will launch systematic work on upgrading the urban public transport in Chelyabinsk Region in the near future,” Alexey Teksler commented.
VEB.RF and Russian Direct Investment Fund to Support Cutting Edge IT Financial Solutions for Wide Range of Investors
VEB.RF signed an Agreement for cooperation in the joint implementation and development of robo-advising and ETF project (Robo+ETF) with FinEx, an international investment group, at the St. Petersburg International Economic Forum.
The Agreement gives VEB.RF, the Russian Direct Investment Fund (RDIF, Russia’s sovereign fund) and co-investors an opportunity to make contributions to the equity of Robo+ETF in the total amount up to one billion roubles, and to carry out marketing and educational programs to promote robo-advising to private and institutional investors in Russia and abroad. FinEx launched Robo+ETF in 2012 as an ETF platform and the first robo-adviser in Russia. Today MICEX lists 14 ETFs with different underlying assets varying from national stock indices to gold and bonds.
“These solutions make it possible to bring together B2B2C platform technologies, Russian and international financial instruments, adapt business practices to different partners and counter parties, unleash export potential of Russian digital products. VEB.RF is also considering the use of financial solutions by the Group and other development institutions to expand its investment offer. In particular, DOM.RF plans to launch the first ETF in Russia with Russian mortgage bonds as the underlying asset,” VEB.RF’s Deputy Chairman Alexey Ivanchenko said.
“Innovative financial products coupled with cutting edge IT solutions make FinEx Robo+ETF project attractive for many of RDIF's international partners,” RDIF’s First Deputy CEO Tagir Sitdekov said. According to Mr. Sitdekov, RDIF will become not only a financial but also a strategic partner of the project taking into account worldwide interest in ETF and robo-advising.
“A partnership with two leading Russian development institutions with extensive international ties is a milestone for us. This partnership opens unique business growth opportunities in Russia and abroad,” FinEx Investment Management Senior Partner Oleg Yankelev said. According to Mr. Yankelev, FinEX team offers a product which efficiently solves issues of small investors in most of the emerging countries, therefore FinEx believes that the product will be in demand not only in Russia but also in Asia and CIS countries.
VEB.RF is a state development corporation. In partnership with commercial banks and investors, VEB.RF is involved in national projects designed to support high value-added manufacturing, non-resource exports, urban agglomeration and infrastructure development. VEB.RF coordinates activities of the largest national development institutions: Russian Export Center, DOM.RF, RSMB Corporation, the Far East and Baikal Region Development Fund, MONOGORODA.RF.
About the Russian Direct Investment Fund
The Russian Direct Investment Fund (RDIF) was founded in June 2011 to make equity investments mainly in Russia jointly with major foreign financial and strategic investors. RDIF is an accelerator of direct investment in the Russian economy. RDIF invested jointly with foreign partners more than RUB1.5tn in more than 70 successful projects in 95% of Russian regions. RDIF’s portfolio companies employ more than 700,000 people and their annual revenue makes 5% of Russia’s GDP. RDIF entered into strategic partnerships with leading international co-investors from more than 15 countries for the total amount of more than USD40bn. For more information please visit: www.rdif.ru
About FinEx, international financial group
International financial group FinEx was founded in 2004. FinEx has offices in London and Moscow. FinEx is a successful developer of different investment products and solutions based on in-house technologies. The parent company FinEx Investment Management LLP is located in London (Great Britain). Today the FinEx Group comprises a robo-advising platform, ETFs for every kind of investors, private equity and private banking services.