VEB and United Grain Company to develop Russia’s agrofood infrastructure

In conjunction with the III Eastern Economic Forum in Vladivostok, Vnesheconombank and United Grain Company entered into a cooperation and coordination agreement.

The document was signed by Vnesheconombank First Deputy Chairman - member of the Board Dmitry Kurdukov and UGC Director General Mikhail Kiiko.

The parties have agreed on the mutually beneficial cooperation with a view to developing Russia’s agrofood market infrastructure.

Currently, VEB is reviewing a project on the construction of the first start-up complex of a specialized grain terminal with the transshipment capacity of 3 million tons per year in Zarubino sea port. In June 2017, VEB and members of the Greater Tumen Initiative North-East Asia Export–Import Banks Association signed a memorandum of cooperation in financing the grain terminal construction project.

“Financing of infrastructure, in particular, port and terminal infrastructure is a key objective of Vnesheconombank as the bank for development. Funding of projects aimed at infrastructure debottlenecking produces significant development impact, in particular, by boosting production and creating new jobs. Furthermore, such projects bring about a multiplier effect through removing constraints, developing other industries and raising additional capital,” pointed out Dmitry Kurdukov.

Press Office