Caixin
Jun 10, 2019 07:03 PM

SPIEF: VEB.RF and Avtodor to Attract Funding for Transportation Projects

VEB.RF and the Russian Highways State Company (Avtodor) with the support of the Roscongress Foundation are creating an investment platform to support PPP projects. 

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Director General of InfraVEB JSC and Deputy Chairman of VEB.RF Yuriy Korsun and Chairman of the Board of Directors of Avtodor-Invest LLC Pavel Seleznev signed the document creating the platform. The signing ceremony took place as part of the St. Petersburg International Economic Forum and was attended by Chairman of the Board of Avtodor Vyacheslav Petushenko. 

“It is particularly important at present that we find efficient new financing mechanisms for the transport sector that would, on the one hand, solve the problem of replacing budgetary resources, and overcome the financial constraints of the PPP investment market on the other. The parties are currently considering a number of projects for preparation and subsequent submission to investors. If VEB.RF is to participate in the financing of such projects, InfraVEB could provide equity financing to the borrower following the results of financial structuring”, Korsun said. 

“The investment platform will make it possible to attract financing for the preparatory stage of PPP transport sector projects, the implementation of which will remove existing infrastructure limitations and have a positive impact on the socio-economic development of the Russian Federation. At the same time, the partnership does not exclude participation in projects in other infrastructure sectors”, Seleznev said.

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of international conventions, exhibitions, and public events.

The Roscongress Foundation was founded in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, and helps foster social entrepreneurship and charitable initiatives.

The Foundation’s events draw more than 80,000 participants each year from 195 countries, with more than 10,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 2,500 people working in Russia and abroad. In addition, it works in close cooperation with economic partners from 75 countries worldwide.

www.roscongress.org

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