Development Institutions Executive Team Headed by VEB.RF’s Chairman Igor Shuvalov Evaluates Ivanovo Region Investment Projects
On June 24, an executive team of development institutions visited the Ivanovo Region. Comprising top managers of VEB.RF, DOM.RF’s CEO Alexander Plutnik, Russian Export Centre’s CEO Alexander Slepnev, RSMB Corporation’s CEO Alexander Braverman, MONOGORODA.RF’s CEO Irina Makieva, the delegation was headed by VEB.RF’s Chairman Igor Shuvalov.
The executive team of development institutions visited the Great Ivanovo Manufacture and adjacent territories. Commenting the development institutions’ plans to transform the Great Ivanovo Manufacture, Igor Shuvalov said: “The building shall be carefully examined, and then VEB will attract an investor to create a new city centre with new jobs and recreational areas for the locals. It is a complex ambitious project, which will require concerted efforts of VEB, RSMB Corporation, DOM.RF and REC.”
“We plan to develop the territory of the Great Ivanovo Manufacture and other still-standing manufactures to create a single cluster. This may become a driver of urban development, which will attract the locals and tourists. VEB.RF jointly with DOM.RF and other development institutions will ensure comprehensive development of these facilities by creating a modern, comfortable urban environment, multi-purpose space for accommodation (including rental housing), work and leisure,” Alexander Plutnik said.
Igor Shuvalov and the Ivanovo Region’s Governor Stanislav Voskresensky discussed the implementation of modern and comfortable urban environment projects. Stanislav Voskresensky highlighted the importance of a comprehensive approach to the tasks: “All the VEB Group’s elements are important to us, as we are working for the benefit of quality of life, people’s well-being enhancement.”
The meeting with the members of the regional government and the local business community discussed several infrastructure and industrial projects’ investment prospects, the creation of export-oriented manufacturers, and development of road infrastructure. In particular two investment projects with financial participation of MONOGORODA.RF are planned in the region: cotton manufacturing in a single-industry town Navoloki and linen fibre manufacturing in Yuzha. “Both projects submitted their requests officially to the Fund. Together the projects will create more than 150 new jobs in single-industry towns of the region,” VEB.RF’s Deputy Chairperson and MONOGORODA.RF’s CEO Irina Makieva said. The amount of facilities granted by the Fund totals RUB165mn.
RSMB Corporation’s CEO Alexander Braverman participated in the presentation of the regional investment projects. RSMB Corporation selected four promising projects, which may benefit from loans and guarantees.
“The Ivanovo Region’s small and medium businesses are already backed by the members of the National Guarantee System and received loans and guarantees in the amount of RUB867.2mn. This support enabled businesses from Ivanovo to raise loan facilities for the implementation of projects in the amount of RUB3.2bn at a rate lower by 2 to 3 b.p. vs. the market,” Alexander Braverman noted.
Commenting the status of exports potential development, REC’s CEO Alexander Slepnev said: “The town of Ivanovo is well known for its consumer goods industry. There is a plan to boost exports in this area of business up to USD1.5bn in 2019. One of the contributors to this boost is the implementation of promising export-oriented projects. For example, we plan to support the manufacturing of new shoe leather articles with eventual exports to Italy, industrial grade fabric from Russian raw materials for tire and rubber plants, linen fabric intended for exports. I would like to highlight that we are already witnessing a growth in consumer goods’ exports. Q1 2019 shoes exports growth rate increased by 29%, the exports of finished textile by 12%, the exports of knitwear by 13%.”
Then the delegation took a trip to Palekh, where in 2018 a joint effort of DOM.RF, KB Strelka and the Government of the Region resulted in a transformation of Krestovozdvizhensky Public Garden in the village’s centre. An improvement programme for the Central Park is scheduled in 2019.
A framework agreement was signed during the visit. As per the agreement, VEB.RF and the Ivanovo Region will consider joint projects to tackle priority social and economic development tasks in the region.
VEB.RF and Ivanovo Region Agree to Develop Road Infrastructure and Public Transport
The executive team of development institutions headed by VEB.RF’s Chairman Igor Shuvalov visited the Ivanovo Region and signed an agreement on cooperation between VEB.RF and the Ivanovo Region. The agreement was signed by VEB.RF’s Deputy Chairman and VEB-Leasing’s CEO Artyom Dovlatov and the Ivanovo Region’s Governor Stanislav Voskresensky. The agreement provides for the search for and review of projects aiming to accomplish priority objectives of social and economic development of the Ivanovo Region.
The parties discussed the financing of road traffic safety programs in the Ivanovo Region, namely the construction of regional roads lighting systems as it is the most capital-intensive task. The parties also discussed the need to renew buses on regular routes. VEB.RF expressed its readiness to consider participation in public programs for development of the Ivanovo Region’s road infrastructure.
“Lease financing will make it possible to rapidly renew the Ivanovo Region’s transport infrastructure. All projects considered under the agreement are important to create a convenient environment for the region’s population,” VEB.RF’s Deputy Chairman and VEB-Leasing’s CEO Artyom Dovlatov said.
“This year we carried out an ad hoc study to identify road sections with the highest number of accidents. The length of these sections is 268.9 kilometres. We plan to install lighting posts, crash barriers and signs on these sections. But this program could have taken us five years to implement due to a significant cost. We made an arrangement with VEB.RF which will make the implementation of this program possible in one year instead of five. The quality of life and traffic safety are a priority for us. I hope that the implementation of the agreement will bear expected results: we will see less road accidents and lives will be saved,” the Ivanovo Region’s Governor Stanislav Voskresensky said.