OREANDA-NEWS. Pavel Grachev was appointed as Director General and Board Chairman of the Fund by a decision of the Far East and the Baikal Region Development Fund’s Board of Directors.

Director of Vnesheconombank’s Public Private Partnership Center Alexandr Bazhenov who held these positions earlier is to continue working in the Fund as a Board Member.

The Far East and the Baikal Region Development Fund jointly with regions’ administrations and private companies have formed a base of promising investment initiatives. An issue of implementing the most significant and best worked out projects is under discussion now. The Fund’s investment activity will focus on preparing and implementing effective projects on the comprehensive development of territories aimed at stimulating production activity and removing infrastructure restrictions.

The Far East and the Baikal Region Development Fund was established in 2011 in the form of an open joint stock company. The Fund’s main lines of activity are to promote investment activities in the constituent entities of the Far East and the Baikal region as well as prepare quality projects of regional and urban development. The Fund’s charter capital was increased from 500 million rubles (as of the date of its establishment) to 15 billion rubles. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ acts as the Fund’s founder and sole shareholder.