A workshop on promoting public private partnership (PPP) was held at Vnesheconombank.
The workshop was organized with the participation of Vnesheconombank and Partnerships UK (Great Britain).
The workshop’s participants discussed issues of promoting the market for PPP projects. Partnerships UK’s top manager Edward Farcuarson in charge of consulting foreign countries’ governments on applying PPP shared the experience of organizing PPP projects as well as the experience of running national PPP centers.
Vnesheconombank’s Public Private Partnership Center Director Alexandr Bazhenov said that PPP projects would account for about a third of Vnesheconombank’s financing amount (approximately 2 billion US dollars) by the year 2012. Based on these plans, each year the Bank is to implement 15-20 programs and specific projects with the use of PPP mechanisms, said A. Bazhenov. In order to support the development of PPP projects market, Vnesheconombank jointly with educational establishment is engaged in developing a programme aimed at improving professional skills of all participants in the investment process including representatives of executive authorities of all levels in training and implementing investment projects on public private partnership terms.
Partnership UK is a company with mixed capital established in 2000. It provides services on organizing PPP projects to public customers in Great Britain. Since its establishment the company has implemented 450 projects worth 40 billion pound sterlings
Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: + 7 (495) 608-46-93, Fax: +7 (495) 975 –21- 34
E-mail: presss@veb.ru
Vnesheconombank, OJSC Ilyushin Finance Co and Aviaimport S.A. Enter into Agreement of Intent
Today, on September 9, in the course of Russian Prime Minister V.V. Putin’s working trip to the Volga Federal District, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, OJSC Ilyushin Finance Co and Empresa Cubana Importadora de Aviacion S.A. (Aviaimport S.A.) (the Republic of Cuba) entered into an Agreement of Intent on Opening Credit Lines within the program of supporting Russian companies’ exports.
Under the Agreement Vnesheconombank is considering possibilities of extending export credits worth 44.5 million US dollars for a period of 12 years to Aviaimport S.A. The credits are to be used to finance the purchase of and TU-204SE aircraft and associated equipment under the export contract between Aviaimport S.A. and OJSC Ilyushin Finance Co.
Support for industrial exports is one of Vnesheconombank’s main lines of activity approved by the Memorandum on Vnesheconombank’s Financial Policies.
Aviaimport S.A. is a subsidiary of the Cuban state-owned air company CACSA. CACSA is involved in passenger and cargo transportation on domestic and foreign air routes of the Republic of Cuba.
Company Ilyushin Finance Co was established in 1999 with the participation of the S.V. Ilyushin Aviation Complex to raise funds to finance the supplies of Russian- made aircraft to the domestic and international market. In August 2001, the Company won the tender for obtaining the state’s support for leasing programs and the Russian Federation has been one of the company’s largest shareholders since December 2001.
Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 608-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru