On Agreement between Vnesheconombank and the Republic of Dagestan Government
As part of the 9th Sochi-2010 International Investment Forum, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Republic of Dagestan Government entered into an Agreement on Cooperation.
On behalf of Vnesheconombank the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and on behalf of the Republic of Dagestan – by Chairman of the Government Magomed Abdulaev.
The Agreement aims to establish strategic partnership and promote long-term and effective cooperation between the parties in the investment activity.
The parties are determined to cooperate to raise funds to finance investment projects scheduled to be implemented in the Republic of Dagestan in energy conservation, construction industry, automobile and aviation industry, tourism infrastructure, small and medium-sized enterprises.
Under the Agreement the Republic of Dagestan Government and Vnesheconombank agreed to exchange information on investment projects, cooperate in preparing expert opinions on projects, work out schemes for financing investment projects, and prepare recommendations on reducing potential risks arising in the process of their implementation.
The Agreement would help to address top-priority objectives of the region’s socio-economic development, create new jobs, reduce unemployment rate, boost investment activity and strengthen Dagestan’s economic and industrial potential.
Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7(495) 608-46-93, Fax: +7(499) 975-21-34
E-mail: press@eb.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