OREANDA-NEWS. April 29, 2011. A Conference on Developing Cooperation between Vnesheconombank and the North Caucasian Federal District in Investment Activity in the city of Kislovodsk was devoted to studying potential investment projects of the North Caucasian Federal District as well as the mechanism for preparing projects in line with requirements of Vnesheconombank’s expert examination.

Presentations of investment projects of the North Caucasian Federal District qualifying for Vnesheconombank’s financing were given by representatives of the District’s regions. The presented projects included the ones in infrastructure, tourism, agro-industrial complex, construction materials manufacturing. Vnesheconombank’s experts conducted consultations on preparing business plans and projects financial models with due regard to the region’s and these projects’ specifics.

In the course of the Conference its participants worked out effective mechanisms for Vnesheconombank’s interaction with Russian constituent entities incorporated in the North Caucasian Federal District, they also approved the work of joint working groups  set up between Vnesheconombank’s Representative Office in Pyatigorsk and the Government of the North Caucasian Federal District constituent entities and explored the issues of making agreements on cooperation with the Chechen and Karachaevo-Cherkess Republics, the Republics of Ingushetia and North Ossetia-Alania.

In attendance of the Conference were more than 70 participants including representatives of executive authorizes and business from the regions incorporated in the North Caucasian Federal District, Vnesheconombank’s representatives, employees of Vnesheconombank’s Representative Office in Pyatigorsk as well as the North Caucasus Development Corporation. The Conference was designed to step up Vnesheconombank’s efforts to establish and enhance cooperation in investment field with the regions of the North Caucasian Federal District.

Up until now Vnesheconombank has entered into agreements on cooperation with the following Russian constituent entities of the North Caucasian Federal District: the Republic of Dagestan, the Republic of Kabardino-Balkaria and the Stavropol Krai. Vnesheconombank signed a Protocol on Cooperation in Enhancing Public Private Partnership with the Chechen Republic.

As of March 2011, there were12 investment projects at various stages of considerations and implementation at Vnesheconombank. These projects are from six out of seven constituent entities of the North Caucasian Federal District (with the exception of Ingushetia). They are in the following sectors:
construction materials manufacturing,
agro-industrial complex,
infrastructure of communal and housing services and tourism,
manufacturing industry,
innovations development.

The total value of projects is 65.5 billion rubles, Vnesheconombank’s participation share is 55.3 billion rubles. As a result of the investment projects’ implementation more than 7 thousand new jobs are expected to be created, budget revenues are to increase by more than 24.2 billion rubles.