OREANDA-NEWS. October 1, 2009. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Government of the Republic of Buryatia 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 Republic of Buryatia – by its Chairman Vyacheslav Nagovitsyn.

The Agreement provides for establishing a strategic partnership and promoting a long-term, effective and mutually beneficial cooperation in the investment activity.

The Agreement provides for the parties to cooperate in addressing high-priority objectives of the region’s socio-economic development. Under the Agreement the parties intend to jointly participate in raising funds to finance investment projects planned to be implemented in the Republic of Buryatia. High priority is to be given to projects in construction, agro-industrial complex and metal-making industry.

A list of projects is to be determined annually based on the Strategy of the Republic’s Socio-Economic Development up to the year 2025, the Program of Buryatia’s Socio-Economic Development for 2008-2010 and Vnesheconombank’s core activities.

The implementation of this Agreement would help encourage investment activity aimed at boosting the region’s industrial, socio-economic and infrastructure potential.