OREANDA-NEWS. May 21, 2009. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Udmurt Republic Government entered into an Agreement on Cooperation.

On behalf of Vnesheconombank the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev on behalf of the Government of the Udmurt Republic – Udmurt President Alexandr Volkov.

This Agreement aims to establish strategic partnership and promote long-term and effective cooperation between the parties in investment activity.

Under the Agreement the parties intend to cooperate in raising funds to finance investment projects planned to be carried out on the territory of the Udmurt Republic.

Top priority is to be given to projects in the following sectors: smelting industry, metalworking, agro-industrial complex, transport infrastructure. A list of projects is be made on the basis of the Program of Udmurt Republic’s Socio-Economic Development for 2005-2009 and main lines of Vnesheconombank’s activities.

The implementation of this Agreement would help address issues of supporting small and medium-sized enterprises as well as addressing top priority objectives of the region’s socio-economic development and boosting the region’s economic and industrial potential.