Vnesheconombank and the Government of the Chechen Republic Sign Protocol of Intent

17 september 2010 года
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As part of the 9th Sochi International Investment Forum, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Government of the Chechen Republic entered into a Protocol of Intent on Cooperation in Promoting Public Private Partnership (PPP) in the Chechen Republic.

On behalf of Vnesheconombank the Protocol was signed by Vnesheconombank Chairman Vladimir Dmitriev and on behalf of the Chechen Republic Government – by Chairman Odes Baisultanov.

The Protocol reaffirmed the parties intention to enter into an agreement on providing investment consulting services in preparing (structuring) a complex of projects aimed at modernizing utilities and social infrastructure, addressing environmental issues as well as upgrading the industrial sector on PPP conditions under Russian Government Order dated August 17, 2010, № 1372-r.

The Protocol was concluded to build on the Agreement on Cooperation signed in October of 2005 between the Government of the Chechen Republic and Vnesheconombank.

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) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

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On Opening the Sochi Air Terminal Complex

16 september 2010 года
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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

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