17 November 2009, Tuesday, 14:35

Bashkortostan develops cooperation with international banks

author: Olga Gorunova

The European Bank for Reconstruction and Development (EBRD) is ready to invest money to economics RB. The Prime-Minister of Government RB Rail Sarbaev held a meeting with the head of EBRD regional development department Bruno Balvaner today, November 17. The first deputy Prime-Minister, Minister of finances RB Airat Gaskarov and the head of EBRD office in Volga federal district Michael Hoffman also took part in the meeting.

In the course of the meeting the parties discussed the aspects of financing of the investment projects “Infrastructural provision of development of the production-technological complex on the territory of Ufa” and reconstruction of Ufa airport. These projects are considered the top priorities for Bashkortostan. Special attention was paid to participation of the bank in financing of the project, using the mechanism of state-private partnership in sphere of public infrastructure on the territory RB – reconstruction of heat networks and boilers in cities and regional centers, reconstruction and expansion of urban sewer systems and water supply systems and backing of the Republican agriculture.

As Rail Sarbaev mentioned, these questions were under discussion at the last meeting with the leadership of the bank in London. Along with the abovementioned projects the project on construction of the underground tunnel with the highway, which has to connect the federal highways M5 and M7 is also important for the Republic. This project is already under realization in our region but because of the crisis it needs additional financial injections on the terms of state-private partnership.

As M-r Balvaner said, EBRD is considered the largest investor in Europe and CIS. About one third of all bank’s investments fall on Russia. Along with other Russian regions Bashkortostan is interesting for the bank as the region with rather large territory and population. Actively developing Republican economics also looks rather promising.

According to him certain agreements were achieved in the course of the meeting with M-r Sarbaev. Cooperation will be first of all developed in sphere of urban and rural infrastructure (renovation of the heat and water supply systems, sewer systems, road construction, in sphere of small and medium business support, construction of tunnels, bridges and transport joints and in some other spheres). The first results of this cooperation will be visible in the first half of 2010.

EBRD is considered the largest investor in Europe and CIS. From the moment of its establishment in 1991 the bank has provided means for the sum of more than 20 billion EUR for support of economics in the countries of the transient period. The bank is funded by 560 countries and two international institutions, working both in the state and in the private sectors.

themes: banks, finances