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Regional activity
Promoting strategic partnership and long-term cooperation with the Russian regions is viewed as a particularly promising line of business for Vnesheconombank.
In pursuit of the cooperation policy, the Bank signed Cooperation Agreements with the governments and administrations of the Krasnoyarsk and Krasnodar Regions, the Orenburg, Ulyanovsk, Ryazan, Kirov, Murmansk, Kurgan, Sverdlovsk, Voronezh, Tambov regions, the Chechen and Chuvash Republics. The Agreements provide for fostering cooperation in a wide range of economic, financial and social sectors, as well as servicing goods and financial flows in the regions. The Bank’s participation in implementing regional economic programs is also a particular concern. Increased emphasis is placed on investment projects in the real sector of Russia’s economy: the fuel and energy sector, housing and industrial production facilities construction, aircraft and ship building, power engineering, agricultural produce processing, hotel business, etc. We would like to mention such capital-intensive projects as financing the program to resume full-scale production of AN-124-100 aircraft “Ruslan” (jointly with Aviastar, the city of Ulyanovsk) and to modernize Il-76 aircraft at the Tashkent Chkalov aircraft-production facility. The agreements encourage the inflow of investment and enhance the regional socio-economic development.
Vnesheconombank assists the regions in devising schemes to finance investment projects using both their own funds and those obtained from the international financial organizations, performs expert analysis of proposals made by foreign banks, credit and financial institutions, offers consulting services, as well as participates in regional committees, commissions and working groups. To illustrate, we would like to mention the project to modernize production facilities at the Orsk Works (under the contract with the Merloni Progetti Italian company), as well as the investment program of constructing a pig breeding integrated facility and the program of developing poultry farming in the Orenburg region.
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