OREANDA-NEWS. September 20, 2010. As part of the 9th Sochi-2010 International Investment Forum, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’and GRAS Interregional Production and Resource Corporation signed an Agreement on Cooperation.

On behalf of Vnesheconombank the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and on behalf of MPRK GRAS – by its Board Director Ruben Khudoyan.

The Agreement aims to establish strategic partnership and promote long-term, effective and mutually beneficial cooperation in implementing investment projects and programs of MPRK GRAS in the construction materials industry and housing construction.

Under the Agreement the parties agreed to make joint efforts to organize and complete financing of the Program of Building Modern Integrated Facilities to Manufacture and Construct Energy-Efficient, Environment-Friendly Economy-Class Housing. The Program includes the following projects of MPRK GRAS:
projects to build production facilities to manufacture aerated concrete blocks and plates in the Saratov and Vladimir regions, the Stavropol and Krasnodar regions;
projects in the development and comprehensive territory development sector implemented by MPRK GRAS subsidiary and affiliated companies;
programs of encouraging demand for MPRK GRAS subsidiary and affiliated companies’ property under development by mortgage-backed lending through Vnesheconombank’s subsidiary banks;
other projects meeting efficiency standards and having positive budgetary and social indicators.

As part of implementing the Agreement, Vnesheconombank plans to conduct expert examination of investment projects, provide consulting services in preparing documentation on investment projects, raise funds to finance investment projects provided that appropriate decisions are made by the Bank’s corporate governance bodies.

The GRAS Group of Companies is a Russian company implementing projects in the construction industry, real property management, development and consulting. GRAS Interregional Finance Corporation is an operator of the GRAS Group of Companies in building different-purpose facilities and Interregional Production and Resource Corporation is an operator of the Group in the construction materials manufacturing sector.