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21 September, Friday

Ufa   °

Cooperation Memorandum was signed between Bashkortostan Government, Agency for Strategic Initiatives and Vnesheconombank

Economy/Business

UFA, 16 February 2018. /Bashinform News Agency/.

Today, a Memorandum on Cooperation between the Government of Bashkortostan, the Agency for Strategic Initiatives for New Projects Promotion and Vnesheconombank was signed within the framework of the Russian Investment Forum Sochi-2018.

The document was signed by the Head of the Republic Rustem Khamitov, ASI General Director Svetlana Chupsheva and Vnesheconombank Chairman Sergey Gorkov. This was reported by the press service of the head of the region.

The Memorandum is aimed at preserving and developing partnership relations, strengthening coordination and interaction of the parties in the field of investment activities, developing mutually beneficial and effective cooperation on a long-term and stable basis.

According to the Ministry of Economic Development RB, the signed memorandum will allow our republic to become a participant in the "Project Finance Factory" program, which was mentioned yesterday at a plenary session of the forum by the Chairman of the Government of Russia Dmitry Medvedev. The essence of the project is support provided by VEB in the form of concessional lending to promising investment projects in the fields of industry, energy, high technology, road infrastructure. The financing scheme is 80/20, where 20 percent is a share capital of an enterprise, and 80 percent is the bank's borrowed funds.

It is planned to establish closer cooperation with the Agency of Strategic Initiatives regarding the formation of a favorable investment climate and reduction of administrative barriers in business. ASI will assist in implementation of federal priority projects and programs, will assess effectiveness of regional support measures.

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