OREANDA-NEWS. May 29, 2009. In the course of 4th international Business Forum ‘Strategic Partnership 1520’ (the city of Sochi)State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, OJSC Russian Railways (OJSC RZHD) and OJSC TransKonteiner entered into a Memorandum on Cooperation in implementing projects aimed at developing transit railway transport corridors connecting Europe and Asia.

On behalf of Vnesheconombank the Memorandum was signed by Management Board Member – Vnesheconombank Deputy Chairman Anatoly Ballo, on behalf of OJSC RZHD – by Senior Vice President Boris Lapidus, on behalf of OJSC TransKonteiner – by General Director Petr Baskakov.

Under the Memorandum the parties agreed to cooperate and coordinate their efforts in implementing projects to develop international transit railway infrastructure, establishing a rail through service to carry out cargo transportation on the territory of Kazakhstan and Russia and in creating a unified infrastructure to handle cargoes in order to boost Russia’s transit potential and encourage the export of transport services.

The implementation of this Memorandum would help to expand the transport-logistic infrastructure in Russia and CIS countries, reintegrate transport networks of the former Soviet republics as well as enable Russian and CIS transport companies to implement joint projects aimed at boosting the development of transport business’ various segments.

Under the Memorandum on Vnesheconombank’s financial policies, one of the Bank’s main lines of investment activity is to implement investment projects aimed at removing economic growth infrastructure restrictions including the development of transport infrastructure.