OREANDA-NEWS. March 09, 2010. Eurasian Development Bank and Russian Nanotechnology Corporation (ROSNANO) signed the Memorandum of Cooperation. On behalf of EDB the Memorandum was signed by the Board Chairman Igor Finogenov, on behalf of ROSNANO - Director General Anatoliy Chubais, reported the press-centre of KASE.

The parties agreed to coordinate efforts on the mid- and long-term investment projects implementation aimed at economic processes strengthening Eurasian economic union, the increase of innovative nanotechnology products with the high added value, creation of new work places in the industry, medicine, energy, transport and other economy sectors.

The funding will be implemented through EDB loans, including structured credit products in the volume from USD30 m to USD100 m for 10 years. EDB also is ready to participate in the authorized capital of ROSNANO project companies developing integration processes, including between courtiers-members of EDB. The funding will facilitate the innovative economy development, goods turnover growth between Eurasian economic union countries, implemented with participation in the member countries legal entities authorized capital.

In addition, the Memorandum foresees EDB participation in innovative funds, created with ROSNANO involvement. ROSNANO is interested in nanotechnology projects implemented by EDB clients, in particular in funding or participation in their capital.