OREANDA-NEWS. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the International Finance Corporation entered into an agreement on providing services to develop a banking product designed to fund projects in energy efficiency.

On behalf of Vnesheconombank the agreement was signed by Chairman Vladimir Dmitriev and on behalf of IFC – by IFC Director for Europe and Central Asia Tomasz Telma.

The said agreement would allow Vnesheconombank to engage international expertise to develop a new product designed to fund projects in energy efficiency.

Under the agreement IFC is to assist Vnesheconombank in developing a mechanism for indentifying potential energy efficient projects and in forming their portfolio. There are plans to do research on the market for energy efficient projects by sectors and regions of the Russian Federation as well as conduct teaching trainings for Vnesheconombank’s employees.

This agreement’s implementation would help to upgrade the methodological base for forming portfolio of energy efficient projects and assist Vnesheconombank in raising long-term financial resources of international financing institutions to fund such projects.