OREANDA-NEWS. April 8, 2011. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank) and the Government of the Republic of Sakha (Yakutia) entered into an Agreement on Cooperation.

On behalf of Vnesheconombank the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and on behalf of Yakutia’s Government - by President Egor Borisov.

The Agreement provides for enhancing long-term and effective cooperation in the investment activity.

Under the Agreement the parties intend to cooperate in raising funds to finance investment projects implemented, among other things, on public private partnership terms and scheduled to be carried out abroad.

Under the Agreement the Government of the Republic of Sakha (Yakutia) is to provide a list of investment projects on the basis of the Strategy for Socio-Economic Development of the Far East and the Baikal region for a period of up to 2025.

A working group is to be set up to coordinate interaction between the parties.

This Agreement’s implementation would help to boost investment activity address top-priority objectives of the region’s socio-economic development and enhance its economic and industrial potential.

At the same time high priority is to be given to projects included in the national investment project “Comprehensive Development of Southern Yakutia”.