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G20 development institutions may ink deal on infrastructure projects financing

July 10, 2013, 12:59 UTC+3
The representatives of major development institutions will meet in Moscow on July 17-18
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MOSCOW, July 10 (Itar-Tass) - A communique on the joint financing of infrastructure projects, including those in Russia, may be signed after a working meeting of G20 development institutions, Vnesheconombank CEO Vladimir Dmitriyev briefed President Vladimir Putin on Wednesday.

This communique will be then taken to the G20 summit in St. Petersburg in September, he said.

The main motto of the meeting that will take place in Moscow on July 17-18 is “long-term investments as a guarantee for sustainable development,” Dmitriyev said.

The high-level meeting will bring together major development institutions. “These are Germany, European investment banks, the European Bank for Reconstruction and Development, the International Finance Corporation, chiefs of financial institutions of BRICS nations. Practically all continents will be represented,” he said.

The Vnesheconombank CEO noted that of late the search for reliable long-term investment projects became a pressing task, “the more so it concerns not only national projects, but also projects of transborder importance.”

“Therefore I think we will sign a communique that will be represented at the G20 summit this autumn. It will reflect our interest in the joint financing of infrastructure projects,” Dmitriyev said.

At the same time he paid attention to the fact that this concerns not only investments of Western European financial institutions into their regional projects, “but they are also ready to consider projects in Russia to have long-term investments serving the interests of sustainable development.”

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