OREANDA-NEWS. November 06, 2009. A protocol on mutual understanding and cooperation was signed by state corporation “Bank for Development and Foreign Economic Affairs Vnesheconombank”) and Partnerships UK within the frames of Session VII of the Russian-British Committee for Trade and Investments.

On behalf of Vnesheconombank the document was signed by Nikolay Kosov, Management Board Member - First Deputy Chairman, on behalf of Partnerships UK – by Gordon Horsfield, Chairman.

 The protocol aims to bolster cooperation between public-private partnership institutions of Russia and Great Britain and to encourage and drive forward innovation in PPPs.

The document envisages implementing joint research projects adopting a PPP approach. That includes risk management, monitoring the existing projects, developing regulatory and institutional framework, PPP projects preparation, procurement and expert evaluation.

In accordance with the document, the parties are intent on sharing guidance and information on PPP issues, planned events, examples of best practice of PPP project expertise and delivery.  Vnesheconombank’s PPP Centre will implement the protocol on behalf of Vnesheconombank.

Vnesheconombank PPP Centre is a structural unit of the Bank. The centre was founded in 2008 with the aim of facilitating development, procurement and delivery of projects taking a PPP option. Also central to PPP Centre’s remit is assisting the public and municipal authorities in improving PPP instruments.

In 2000, Partnerships UK - a public-private partnership - sprung from the PPP taskforce set up within HM Treasury. Partnerships UK operates on a commercial, but non-profit maximising basis. PUK has 51 percent private sector equity ownership with 49 percent owned by HM Treasury and the Scottish Executive. The Company only works with the public sector in the following areas:
supporting, drawing on its commercial experience and expertise, individual projects at pre-procurement, procurement and implementation stages;
supporting the public sector in implementing PPP policies and PPP projects monitoring;
facilitating public sector assets commercialization, providing specialist knowledge and expertise, investing in projects at transitional stages;
encouraging investments in public sector, acting as a co-investor and assisting public sector departments in investment allocation programs. Since the very outset, PUK has been engaged in delivery of about 500 PPP projects for a sum that exceeds GBP 40 billion.