Vnesheconombank introduces “Project Finance Factory” initiative

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Vnesheconombank introduced a new mechanism for long-term investment, namely, the “Project Finance Factory”. Vnesheconombank signed memorandums of intent with future project initiators to organize syndicates to implement projects during the Russian Investment Forum in Sochi. The documents were signed on behalf of Vnesheconombank by its First Deputy Chairman and Member of the Board Dmitry Kurdyukov. The signing ceremony took place in the presence of Russia’s Economic Development Minister Maxim Oreshkin and Vnesheconombank’s Chairman Sergey Gorkov.

Dmitry Kurdyukov said, “The Factory’s mechanism is attractive to commercial banks in that they can share project financing risks with Vnesheconombank and include in their portfolio the projects that they or their customers have not been able to implement. For their part, borrowers will have access to long-term and relatively inexpensive credit facilities. Vnesheconombank has already preliminarily assessed the first projects and reduced borrowing costs.” The value of the Factory’s first projects totals 180 billion roubles.

To learn more about the project, please follow this site: https://www.veb.ru/en/press/news/?id_19=104764

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