OREANDA-NEWS. The third meeting of the Working Group to monitor the implementation of the Joint Action Plan carried out by Vnesheconombank Group and the Kaluga region Government for the comprehensive development of the Kaluga region for a period of 2011-2013 was held in the Kaluga region under the chairmanship of Vnesheconombank Deputy hairman Board Member Sergei Vasiliev. The meeting was attended by Deputy Governor of the Kaluga region Ruslan Zalivatsky.

In the course of the meeting VEB Capital (LLC) and the Government of the Kaluga region signed an agreement on cooperation. On behalf of VEB Capital (LLC) the agreement was signed by Deputy Director General Sergei Koshelenko and on behalf of the Kaluga region Government by Ruslan Zalivatsky. The agreement provides for developing project financing to raise investments to finance the regions long-term infrastructure projects (transport, power engineering, housing and communal services and social infrastructure), as well as for setting up a system to provide support for financially troubled companies.

The meetings participants discussed the results of implementing the Joint Action Plan in the 4th quarter of 2012 and the 1st quarter of 2013 including the progress of implementing the 3nd stage of the project on the development of the Kaluga regions industrial parks infrastructure. As part of enhancing further cooperation in credit and investment activity the following projects were presented to Vnesheconombank Group:
* modernizing water-sewage services in the city of Kaluga;
* comprehensive (housing) development of the Kaluga regions territories;
* creating transport and engineering infrastructure to develop economic potential of the Kaluga regions southern districts as part of developing an industrial-production special economic zone in the Luydinovo municipal district.

In the course of the meeting a decision was made to thrash out projects that could be implemented with the assistance of the EXIAR (OJSC).

The next meeting of the Working Group is scheduled for the 4th quarter of 2013.

At present, Vnesheconombanks governance bodies approved the Banks participation in 3 investment projects in the Kaluga region for a total amount of 43.1 billion rubles, with Vnesheconombanks participation share being 33.9 billion rubles.

These investment projects implementation is expected to create more than 25 thousand jobs. A growth in budget revenues will amount to about 100.0 billion rubles.

Vnesheconombanks subsidiary banks loan portfolio was 1.2 billion rubles as of May1, 2013 (GLOBEXBANK 0.643billion rubles, Svyaz-Bank 0.557 billion rubles). The financing volume extended to Kaluga region enterprises since early 2013 is about 0.5 billion rubles (GLOBEXBANK 0.433 billion rubles, Svyaz-Bank 0.111 billion rubles.

In 2012 OJSC VEB Leasing entered into 180 leasing agreements worth 299.7 million rubles.

As of May 27, 2013, the regional limit established for the Kaluga region under the programs to support small and medium-sized enterprises implemented by Vnesheconombank through OJSC SME Bank is 451 million rubles, with the unused balanced being 191.12 million rubles.

The Government of the Kaluga region jointly with the Strategic Initiatives Agency is implementing the roadmap of introducing activities standards for government executive authorities to create favorable investment climate in the Kaluga region.