Russian Railways and Vnesheconombank agree on joint implementation of investment projects
Russian Railways and the Bank for Development and Foreign Economic Affairs State
Corporation (Vnesheconombank) have signed a cooperation agreement to implement export
and investment projects in foreign countries.
The agreement was signed by Vladimir Yakunin, President of Russian Railways, and
Vladimir Dmitriev, Chairman of Vnesheconombank, at the St. Petersburg International
Economic Forum on Thursday, 20 June 2013.
The parties intend to cooperate on implementing export and investment projects
in foreign countries aimed at producing and implementing high-tech industrial products
manufactured in Russia, supporting the export of products, services and technologies
(including with the aim of diversifying the country's exports) and strengthening the
competitiveness of Russian organisations on the global market.
The document provides for a comprehensive study of export and investment projects
abroad in order to identify opportunities to participate in their financing, and also
to arrange project financing if they meet the requirements of Vnesheconombank's Memorandum
on Financial Policies and a positive result of in terms of their financial viability.
The parties believe that implementing the agreement will ensure increased access
for Russian companies and their goods and services to global markets.