OREANDA-NEWS. May 31, 2010. The first meeting of the Working Group on implementing the multilateral Agreement on Cooperation between Development Institutions in Ensuring Continuous Financing of Innovation Projects at all Stages of Innovation Cycle was held under the chairmanship of Management Board Member – Vnesheconombank Deputy Chairman Mikhail Kopeikin.

The Working Group incorporates representatives of state financial development institutions (Vnesheconombank, RUSNANO, the Russian Venture Company, the Russian Development Bank, the Fund for Supporting Small Enterprises in Scientific and Technological Sphere), as well as the Moscow Interbank Currency Exchange and such non-government organizations as (OPORA ROSSII, the Russian Venture Investment Association) and the Federal Agency for Youth Affairs.

The Working Group’s activity is designed to coordinate interaction of project groups, develop common approaches to selection, expert examination and structuring of innovation projects and form a composite data base on projects financed by the parties to the Agreement. The meeting dealt with issues of establishing efficient and rapid information exchange on the projects being implemented between the parties to the Agreement. The parties also agreed to make a list of specific projects that can receive financial support.

In particular, the meeting considered implementing joint projects of the Russian Development Bank, the Russian Corporation of Nanotechnologies, Basalt Composites for the North, the project to build a production facility manufacturing boosters for digital TV, biofuel production projects and projects to manufacture optoelectronics prepared by MICEX regional listing companies.

Working Group meetings are planned to be held on a monthly basis.

The Agreement on Cooperation between Development Institutions and Interested Organizations in Ensuring Continuous Financing of Innovation Projects at all Stages of Innovation Cycle was signed in April of 2010. The Agreement aims to establish interaction between the parties to identify the needs of innovation companies and provide them with instruments, services and conditions for them to efficiently implement innovation projects on the Russian territory and at a global level.