Memorandum on Implementing Infrastructure Projects in Saint Petersburg

Today, on June 8, in the course of 22^nd Petersburg International Economic Forum, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Government of Saint Petersburg entered into a Memorandum on Cooperation in Implementing Infrastructure Projects in Saint-Petersburg.

The Memorandum was signed by Vnesheconombank Chairman Vladimir Dmitriev and Saint Petersburg Governor Valentina Matvienko.

Under the Memorandum the two sides are determined to analyze and work out organizational, technological and financial schemes for implementing infrastructure projects, assess and analyze project risks as well as raise funds to finance projects provided that they are in line with the Bank’s Memorandum on its Financial Policy. The two sides have also agreed to establish a working group to make a list of infrastructure projects planned to be carried out in Saint Petersburg as well as discuss issues of preparing them for implementation.

The Memorandum was signed in order to boost infrastructure development and Saint Petersburg investment appeal, raise investments for the city’s economy and carry out strategic investment projects.

Under the Memorandum on Vnesheconombank’s Financial Policy, one of its main lines of activity is to implement infrastructure projects aimed at removing economic growth infrastructure restrictions including the development of energy and transport infrastructure of housing and communal services as well as tourism.

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

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