OREANDA-NEWS. State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Federal Agency for Tourism of the Russian Ministry of Culture (Rostourism) entered into an Agreement on Cooperation.

On behalf of Vnesheconombank the Agreement was signed by Chairman Vladimir Dmitriev and on behalf of Rostourism - by its Head Alexandr Radkov.

The parties agreed to form and implement investment projects aimed at creating tourist-recreational complexes and other tourist infrastructure on the terms of public private partnership.

Under the Agreement Vnesheconombank is ready to act as an investment consultant on forming projects in the tourism sector as well as work out proposals for funding projects’ preparation and implementation.

In order to initiate tourism projects and organize funding for them the parties to the Agreement intend to cooperate with governmental and local authorities as well as with private investors.

The parties are confident that this Agreement’s implementation would help create favorable conditions for sustainable development of tourism in Russia.