VEB.RF and EXIMBANK OF RUSSIA to Provide Financing for New Underground Carriages for Tashkent

5 april 2021 года
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  • VEB.RF has a new export contract with Uzbekistan
  • The Tashkent Metro will receive 40 new carriages

VEB.RF and Tashkent Metro Company, a subsidiary of O’zbekiston Temir Yo’llari (Uzbekistan Railways), have signed a loan agreement for the supply of ten modern underground trains manufactured by Transmashholding, Russia. The credit line is 30.4 million euros for 12 years.

Russian Export Center (REC, part of the VEB.RF Group) will also provide financing through EXIMBANK OF RUSSIA (part of the REC Group), which will have a separate loan agreement for a portion of the price of underground carriages and for the price of spare parts and accessories, with insurance to be provided by EXIAR (part of the REC Group).

The document was signed on behalf of VEB.RF by its Deputy Chairman and member of the Board Daniil Algulyan and on behalf of the Tashkent Metro by Tashkent Metro Company’s CEO Oybek Khudoikulov. The signing ceremony took place during the International Industrial Exhibition INNOPROM.

“Support for Russian industrial exports is a key area for VEB.RF. A large-scale programme to renew the public transport system is under way in Uzbekistan. The Tashkent Metro already uses Russian-made modern trains: with the support of VEB.RF, Tashkent received five trains in the autumn of 2019. And this is not the only Uzbek-Russian urban project. VEB.RF and the Office of the Mayor of Tashkent are now discussing several infrastructural projects,” Daniil Algulyan said.

“Uzbekistan is our important partner, and we are definitely interested in the joint implementation of large infrastructural projects aimed at socio-economic development. This project features the participation of two Russian financial institutions, EXIMBANK OF RUSSIA and VEB.RF. With support from the Uzbek Government, they provided full financing for the buyer of Russian equipment, Tashkent Metro Company,” said Veronika Nikishina, CEO, REC.

“We are sincerely grateful to our Uzbek partners for their confidence,” said Andrey Vasilyev, Deputy CEO, Transmashholding. “I’m sure the residents of Tashkent will appreciate the comfort, aesthetics and safety of the new Russian trains.”

The trains will be manufactured by Moscow-based Metrovagonmash (part of Transmashholding). Each of the ten trains will have four underground carriages. The carriages feature modular gangway connections, enabling passengers to move from one carriage to another, and double-leaf sliding plug doors, 1.4 metres wide, with external door status signal lights. The head carriages have wheelchair spaces. Each passenger compartment is fitted with touchscreen monitors with all the necessary functionality (station search, route planning, travel time calculation). The passenger compartments and driver’s cabs are equipped with video surveillance, air conditioning and air sanitising systems. The service life of the underground carriages and underframes is 30 years. The windscreen of the driver’s cab is fitted with a manually adjustable sun shade, taking into account the characteristics of the Tashkent Metro: this rapid transit system has a number of elevated sections.

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Intellectually Disabled People in Yakutia to Get New Assistance on 1 April

1 april 2021 года
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  • The republican authorities and VEB.RF launch an assisted living programme for people with disabilities
  • The programme aims to help 30 mentally impaired local residents to become equal members of society

The assisted living programme for people with mental health disabilities is to come into test operation in Yakutia on 1 April.

Svetlana Yachevskaya, Deputy Chairperson and member of the Board, VEB.RF, said: “The project is designed to make it unnecessary for people with mental health needs to live in neuropsychiatric establishments. They can live with their families or even independently. Mental disorders can differ from each other. And many of these people can really lead a socialised life. It’s very important to see how assisted living, the fact that these people live in conditions similar to their homes with certain necessary modifications or in a specially created environment, would help them to learn some social skills. The most important for people—with any abilities, with any impairments, with any special needs—is quality of life. And most of these people can considerably improve their quality of life thanks to our project. Private investment in the social sphere will make it possible to achieve fundamentally new results.”

The idea is implemented within a special category of projects, namely social impact bonds. They are clearly structured. The government engages private investors to finance social impact projects and pays for the achievement of specified outcomes. In this case, the goal is to help 30 mentally impaired local residents to become equal members of society and have normal activities of daily living, such as finding a job and starting a family. Eighteen of them will receive help at home, another 12 in the assisted living residence that will soon open in Yakutsk.

“The Far East, with its vast, sparsely populated area and its harsh climate, is desperate for innovative solutions aimed at improving quality of life. In Yakutia, we adapted mechanisms for financing social impact projects to be suitable for local conditions. These mechanisms are widely used all over the world and make it possible to attract private investment to quickly and efficiently deal with governmental issues. Yakutia has two social impact projects funded by VEB.DV (part of the VEB.RF Group). One of them is aimed at improving the quality of education for schoolchildren, and the other is launched today: in the area of assisted living for people with mental health disabilities. This is only the beginning of the radical transformation of social financing, and the VEB.RF Group will pay particular attention to it in the Far East,” said Artyom Dovlatov, Deputy Chairman and member of the Board, VEB.RF.

The project originator is the Government of the Republic of Sakha (Yakutia); the investor is VEB.DV, a subsidiary of VEB.RF; the contractor is GAOORDI, a Saint Petersburg–based association of disabled children’s parents. GAOORDI has considerable experience of organising assisted living facilities for mentally impaired people.

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