Today, on September 22, in the course of the Russian-Kazakh summit on border cooperation attended by Russian President Dmitry Medvedev and Kazakh President Nursultan Nazarbaev, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ signed an Agreement on the General Terms of Opening a Credit Line for the Kazakhstan Development Bank.
The credit line in the amount of up to 300 million US dollars with a repayment period of up to 15 years is of targeted nature – funds will be made available to implement joint projects on the territory of the Republic of Kazakhstan, the projects provide for the export of Russian companies’ industrial products and services. The two sides are to jointly make decisions on financing each specific project.
This Agreement resulted from the cooperation between the two financial institutions within the Shanghai Cooperation Organization Interbank Consortium.
Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 608-46-93, Fax: +7 (495) 975-21-34
On the Bank for Development’s Participation in the Seventh International Investment Forum Sochi-2008
Today, on September 19, in the course of the Seventh International Investment Forum Sochi-2008, State Corporation ‘Bank for Development and Foreign Economic affairs (Vnesheconombank)’ signed a number of agreements.
The Bank and the Company for the Development of the Rosa Khutor Alpine Ski Resort Ltd signed an Agreement on the General Principles of Raising Money to Finance the Construction and Operation of the Rosa Khutor Alpine Ski Resort in Krasnaya Polyana. The Rosa Khutor project provides for building a unique, year-round sports and tourist complex. Under the project, a number of Olympic sports facilities are planned to be built including an alpine ski center, a snowboard park, alpine ski routes to hold competitions in all 10 alpine ski events as well as hotel infrastructure assets. The project’ total value is 1,375 million US dollars. Vnesheconombank plans to earmark funds worth up to 750 million US dollars for a period of 15 years for this project’s implementation. The Rosa Khutor Ltd will be responsible for raising the remaining amount of investment using its own and founders’ funds. The project is of national importance and is being implemented on public private partnership principles under the Program to build Olympic facilities and develop the city of Sochi as a mountain and climate resort.
The Bank signed an Agreement with OJSC Eurasian on Opening a Credit Line worth 75 million US dollars. The funds are being made available for a period of up to 5 years within the framework of financing the project aimed at reconstructing and developing water supply and water drainage systems on the Azov and the Black Sea Coast in the Krasnodar region.
The Bank signed an Agreement with the Tatarstan Republic Government on the General Principles of Raising Money to Finance the Project to Construct a New Integrated Complex to Manufacture Ammonia, Methanol and Granulated Carbamide in the city of Mendeleevsk, the Republic of Tatarstan, implemented by OJSC “Ammmonii”. The project provides for constructing the first Russian high-technology complex to manufacture nitrogen fertilizers. The total value of the project is up to 1.5 billion US dollars, with Vnesheconombank’s participation share being up to 870 million US dollars. Vnesheconombank and state-run nonprofit company “the Investment Venture Fund of the Republic of Tatarstan” are expected to be among shareholders of OJSC “Ammonii”.
The Bank signed an Agreement with OJSC “Russian Railways» on Opening a Credit Line worth up to 6 billion and 300 million rubles. The funds are to be made available for a period of 10 years to implement the project aimed at developing infrastructure of the Kuzbass-Far Eastern Transport Hub Route.
The Bank signed an Agreement with the Eurasia Investment and Industrial Group on Providing 225 million US dollars for a period of 7 years that can be prolonged up to 16 years to implement the project to build a modern logistic terminal with the Biek Tau Indusrial part elements (the Republic of Tatarstan) at the intersection of international West-East and North-South transport corridors. This project would help develop infrastructure of these international transport corridors and increase the number of traffic flows running through the Russian territory as well as promote the export of transportation services.
Origin: Press Office of Vnesheconombank
Contact Person: Svetlana Nikitina
Phone: +7 (495) 608-46-93, Fax: + 7 (495) 975-21-34