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

On behalf of Vnesheconombank the Agreement was signed by Management Board Member, Vnesheconombank Deputy Chairman Anatoly Ballo, on behalf of the Government of the Chelyabinsk region - by First Deputy Governor Vladimir Dyatlov.

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 including those implemented on the principles of public private partnership and planned to be carried out on the territory of the region.

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 Chelyabinsk Region’s Strategy of Socio-Economic Development up to the year 2020 and main lines of Vnesheconombank’s activities.

The implementation of this Agreement would help address issues of integrating the state’s and private investors’ investment potential, supporting small and medium-sized enterprises, encouraging investment activity designed to boost the region’s industrial, socio-economic and infrastructure potential.