OREANDA-NEWS. March 22, 2010. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and Asset Management Company Leader (Pension Fund Assets Management Company) entered into an Agreement on Cooperation.

On behalf of Vnesheconombank the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev, on behalf of Asset Management Company Leader – by its General Director Anatoly Gavrilenko.

The Agreement aims to establish strategic partnership and promote long-term, effective and mutually beneficial cooperation in developing instruments and the market for public-private partnership (PPP) projects.

Under the Agreement the parties have agreed to draw up optimal schemes for implementing PPP projects in the regions of the Russian Federation under which Asset Management Company Leader is to consider the possibility of providing financing to concessioners including against Vnesheconombank’s guarantees.

The signing and subsequent implementation of the Agreement are designed to further upgrade and implement PPP mechanisms as an efficient way of cooperation between the state and private sector in carrying out infrastructure investment projects.

State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ was establish of the basis of the Federal Law “On the Bank for Development” by way of reorganizing Vnesheconombank of the USSR. The Bank for Development’s activity is aimed at boosting the development of high-technology industries, infrastructure, innovations, high-technology exports, and support for small and medium-sized enterprises.

Asset Management Company Leader was founded in 1993. It is incorporated in the SOGAZ Group of Companies. Asset Management Company Leader is Russia’s largest company by the amount of assets under management. Reserves of non-government pension funds account for the greater part of these assets. PPP projects are one of this company’s top-priority lines of activity. Asset Management Company Leader takes an active part in tenders for the right to conclude concession agreements.