OREANDA-NEWS. October 19, 2011. Vnesheconombank and the Russian Regional Development Ministry organized and held a round-table discussion “Modern Mechanisms for Mono-Cities Development” in the course of the 10th All-Russian Forum “Strategic Planning in Russian Regions and Cities” in Saint Petersburg.

Vnesheconombank Deputy Chairman, Head of the Working Group on Mono-Cities Modernization under the Government Commission on Economic Development and Integration Irina Makieva acted as a moderator.

The round-table discussion’s participants shared business experience including their international experience in modernizing mono-cities.

High priority was given to analyzing problems confronted by mono-cities and to searching for the most effective instruments for urban modernization including with the participation of international development institutions and Vnesheconombank.

In the attendance of the discussion were representatives of Russian and foreign municipalities and constituent entities and the business community.

The discussion’s participants approved initiatives to develop jointly with the World Bank partnership programs aimed at sharing experience and making a list of Russian and foreign mono-cities that have similar features and problems of socio-economic development.

As part of the Russian Government’s crisis-management program, a program of measures for developing mono-cities was developed. As a result of this program’s implementation 35 mono-cities were provided with the state’s support. The financing amount was 22.7 billion rubles. For a period of 2010-2011, the first experience in modernizing mono-cities was gained. A number of projects aimed at diversifying the urban economy were successfully implemented. Specifically, Vnesheconombank formed a portfolio of potential investment projects in mono-cities.