Financing of infrastructure projects in Russia jointly with the IBRD
The investment program provides for Vnesheconombank to extend targeted credits to companies implementing investment projects in infrastructure (transport, power engineering, housing and communal services) and industry through raising funds from the International Bank for Reconstruction and Development in the amount of up to 500 million US dollars with a possibility to further increase the amount to 1 billion US dollars. A condition for Vnesheconombank’s participation in this investment program is that the Bank provides financing in the amount comparable to borrowed funds.
A credit can be extended for a period from 15 to 30 years. And an interest rate for end borrowers is to be set taking into account a cost of borrowing from the IBRD and it might be significantly lower than a market average rate.
Participation in the program will make it possible for project initiators, Vnesheconombank’s customers, to receive technical assistance from the World Bank and other international financial institutions in preparing project documentation and bringing it in line with investors’ expectations as well as in implementing projects.
Main criteria for projects’ participation in the investment program are their conformity with the investment program’s sectoral priorities (infrastructure, industry), their positive effect on the economy and society, an investment project’s high quality, and its compliance with environmental, ecological efficiency and social security standards.