OREANDA-NEWS. State Corporation 'Bank for Development and Foreign Economic Affairs (Vnesheconombank)' and the Government of the Moscow region entered into an Agreement on Cooperation.

This Agreement aims to establish a strategic partnership and enhance long-term and effective cooperation in the investment activity.

Under the Agreement the Parties intend to cooperate in working out proposals for funding investment projects to be implemented among other things on the terms of public private partnership as well as develop mechanisms for their implementation and cooperate in preparing project evaluations, participate in providing financial support for small and medium-sized enterprises.

The parties give top priority to projects in innovation economic sectors, projects designed to develop transport and energy infrastructure of the Moscow region as well as projects in education medicine and pharmaceutics.

This Agreement's implementation will help to address objectives of the Moscow region's socio-economic development and strengthen its economic an industrial potential.

As of January 1, 2014, Vnesheconombank's governance bodies approved VEB's participation in 21 investment projects of the Moscow region for a total amount of 191.8 billion rubles, with Vnesheconombank's participation share being 77.1 billion rubles. As a result of implementing the investment projects 5 thousand new jobs are expected to be created. The budget effect will amount to 113.5 billion rubles. 4 interregional projects are also being implemented on the territory of the territory of the Moscow region.