On Signing Protocol of Intent with the Government of the Volgograd Region
As part of the 9th Sochi-2010 International Investment Forum, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Administration of the Volgograd region signed a Protocol of Intent.
On behalf of Vnesheconombank the Protocol was signed by Vnesheconombank Chairman Vladimir Dmitriev and on behalf of the Volgograd region by Head of the Administration Anatoly Brovko.
The Memorandum reaffirms the parties’ intention to enter into agreements on investment consulting to prepare a comprehensive project aimed at creating the National Victory Center.
The Project to create the National Victory Center is a comprehensive development project incorporating a general program to develop the Volgograd region’s territory involving not only the restoration of the composition center of the Historical Memorial Complex to the Heroes of the Stalingrad Battle but also projects aimed at reconstructing and developing tourism infrastructure, transport, housing and communal services.
Under the Protocol signed:
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Vnesheconombank is to examine the Volgograd region’s regulatory and legal network regulating public private partnership (PPP), render technical assistance to the region’s Administration in preparing programs of training and retraining government and municipal employees specializing in PPP.
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The Administration of the Volgograd region is to take a number of measures for upgrading its regulatory and legal framework in the public private partnership sector in order to implement the Victory Project and other projects on the conditions of public private partnership and is to provide Vnesheconombank with relevant information on this project to prepare an investment consulting agreement.
Subject to Russian Government Order dated August 17, 2010, № 1372-r State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’was appointed as the sole provider of investment consulting services for state needs of constituent entities of the Russian Federation. The fact that Vnesheconombank was given the power to provide consulting services without holding tenders does not mean any limitation of competition since it does not rule out the possibility of hiring other investment consultants as part of competitive procedure or cooperation with international financial institutions.
Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608—46-83, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru
A ceremony to open an air terminal complex of the Sochi International Airport took place in the city of Sochi.
State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ acted as a key creditor of the project. In 2009, Vnesheconombank and OJSC the Sochi International Airport signed an Agreement providing for Vnesheconombank to open a credit line for OJSC the Sochi International Airport for an amount of 5.7 billion rubles for a period of 10 years. The funds provided on the principles of project financing were intended for financing the construction of the air terminal complex as well as for refinancing the company’s debt to the federal budget as well as for repaying commercial banks’ credits raised earlier.
Under the Resolution of the Russian Government “On the Programme to Build Olympic Facilities and Develop the City of Sochi as a Mountain Climate Resort”, the Sochi International Airport Modernization Project was granted a status of Olympic facility.
OJSC the Sochi International Airport is incorporated in the aviation sector of Bazovyi Element Company. Since 2007 the airport has been managed by Bazel Aero. Bazel Aero was established in 2007 and is a company responsible for managing airports. The Sochi International Airport is among Russia’s ten largest airports and ranks as seventh by passenger flow.
Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru