OREANDA-NEWS. May 24, 2011. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Government of the Nizhny Novgorod region entered into a government contract on offering investment consulting services for the state needs of the Russian Federation constituent entity.

On behalf of Vnesheconombank the contract was signed by Vnesheconombank Chairman Vladimir Dmitriev, on behalf of the Novgorod region Government – by its Chairman Valery Shantsev.
Under the contract Vnesheconombank is to provide investment consulting services on forming the project to construct a bridge crossing over the river Volga in the area of Podnovie in the Nizhny Novgorod region using public private partnership mechanisms.

Under the contract Vnesheconombank is to develop this project’s concept, take measures required for its implementation including preparations of documents needed to define an investor through holding tenders by the Novgorod executive authorities for implementing the project on the PPP principles and raising non-budgetary financing.

The project’s implementation would allow the Nizhny Novgorod region to resolve the current transport problems impeding economic growth of the region and also would make it possible to speed up the development of urban agglomeration which is of primary importance in view of holding the 2018 Football World Cup and the World EXPO-2020, an application for participation in which is being put together.