On Signing an Agreement between Vnesheconombank, the Sverdlovsk Region Government and the China State Development Bank

State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank), the Government of the Sverdlovsk region and the China State Development Bank entered into Agreement in the field of investment development.

On behalf of the Russian side the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev, on behalf of the Sverdlovsk region – by Governor Edward Rossel, on behalf of the Chinese side – by CSDB Board Director Chang Yuan.

The Agreement aims to establish strategic partnership and effective long-term cooperation in the investment activity and step up efforts to raise funds to finance investment projects in the Sverdlovsk region.

Under the Agreement the parties would address legal, economic and organizational issues concerning cooperation in accordance with applicable legislation of the Russian Federation and the People’s Republic of China.

The parties intend to cooperate in raising funds to finance investment projects the implementation of which is planned on the territory of the Sverldlovsk region. Top priority will be given to projects in such sectors as transport, power engineering industry, energy infrastructure, smelting industry (special steels manufacturing), timber processing industry, housing communal services infrastructure, agro-industrial complex.

The implementation of this Agreement would help address issues of supporting small and medium-sized enterprises, encourage investment activity aimed at boosting industrial, socio-economic and infrastructure potential on the territory of the Sverldlovsk region.

Origin: 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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