Moscow, 30 November 2016. Eurasian Development Bank (EDB) and Russian Highways signed a memorandum of understanding. The document was signed on 30 November 2016 in Moscow, at the 10th Transport of Russia International Exhibition, by Dmitry Pankin, Chairman of the Management Board at EDB, and Sergei Kelbakh, Chairman of the Board at Russian Highways.
The memorandum is intended to ensure long-term, mutually beneficial cooperation between the parties in order to solve pressing issues in the area of road construction. The document also outlines the areas of future joint work. In particular, the parties intend to agree on cooperation priorities and possible investment options for Russian Highways’ projects, including through special purpose vehicles. Support mechanisms for regional projects are expected to be devised as well. The memorandum also envisions EDB’s participation in the development of Russian Highways’ investment projects, including the arrangement of finance for preparatory project activities. The parties agreed to set up expert groups, including external advisors, to share experience and competencies related to the above areas of cooperation.
“Our cooperation with Russian Highways is completely in line with EDB’s strategic objectives and mission, considering that the development of transport infrastructure in the EDB member states is among the Bank’s key priorities. Our joint efforts to develop transport corridors will help to enhance trade between the Eurasian Economic Union’s countries and thereby promote economic growth in the region,” Dmitry Pankin, Chairman of the Management Board at EDB, commented.
“The participation of EDB, as a bank financing infrastructure projects, is very important in our work to develop transport corridors in Eurasia, from Europe to Western China. We hope that, with EDB’s support, we’ll be able to expand the range of development institutions involved in the Europe–Western China project with both Russian and international organisations,” Sergei Kelbakh, Chairman of the Board at Russian Highways, said.
The 10th Transport of Russia International Exhibition is taking place in Moscow from 30 November to 2 December. The yearly event brings together the country’s leading transport companies with the aim to solve the tasks faced by the Russian transport sector.
Additional Information:
Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
Read more at https://eabr.org/
Russian Highways (Avtodor) is a state-owned company set up in 2009. Its objective is to develop a network of high-speed toll roads with non-public investments as well as road service facilities. Russian Highways manages the M-1 Belarus, M-4 Don, M-3 Ukraine and the new high-speed M-11 Moscow–St. Petersburg roads. The company is also responsible for their comprehensive reconstruction. Russian Highways has been contracted to construct the Central Ring Road in Moscow and Moscow Region. To fulfil all its major projects, Russian Highways uses public-private partnership (PPP) mechanisms.
The company’s official website is https://russianhighways.ru
EDB Media Center:
+7 (727) 244 40 44 ext. 6147 (Almaty)
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e-mail: pressa@eabr.org
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