Both ADFIAP members Vnesheconombank in Russia and KfW in Germany signed Memorandum of Understaning (MoU) to promote the development of the solid waste utilization sector in the Russian Federation based on the principles of environmental protection and increased ecology levels. Both Vnesheconombank and KfW agreed to launch an initiative on modernizing social infrastructures that will focus on investing funds in upgrading existing and/or building new urban and regional waste treatment systems. Public companies and companies established on the principles of public private partnerships (PPP) at municipal and regional levels are to become final beneficiaries. A mechanism for selecting projects as part of the initiative is to be additionally agreed upon by both parties. Also under the agreement, both parties will share information of mutual interest as well as participate in the selection and preparation of projects.