OREANDA-NEWS. August 16, 2010.   State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Orel region Administration entered into an Agreement on Cooperation.

On behalf of Vnesheconombank the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and on behalf of the Orel region – by Chairman of the Government Alexandr Kozlov.

The Agreement aims to establish strategic partnership and promote long-term and effective cooperation between the parties in the investment activity. Under the Agreement the parties intend to cooperate in raising funds to finance investment projects aimed at enhancing sustainable and balanced development of the region’s economy. A list of projects is to be determined on the basis of the Strategy of the Orel region’s Socio-Economic Development for a Period of up to 2020 as well on Vnesheconombank’s main lines of investment activity. The cooperation priorities include increased natural resources utilization efficiency, the agro-industrial complex, infrastructure of housing and communal services, medical equipment and pharmaceutics.

This Agreement’s implementation would help to address issues of integrating the investment potential of the state and private investors, provide support for small and medium-sized enterprises as well as boost the Orel region’s economic and industrial potential.