OREANDA-NEWS. September 25, 2009. Chairman of State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ Vladimir Dmitriev and Plenipotentiary Representative of the Russian President Nikolai Vinnichenko signed a Memorandum on Cooperation.

The Memorandum aims to promote long-term and effective cooperation designed to enhance the socio-economic development of the Urals Federal District and constituent entities incorporated in it.

Under the Memorandum the parties intend to cooperate in raising funds to finance investment projects planned to be implemented on the territory of the Urals Federal District including projects to be implemented on the PPP principles.

The parties believe that one of their high priority lines of cooperation is to enhance the competitiveness of main industrial sectors of the Federal District by way of improving the raw materials base and using mineral deposits of the Polar and Sub-Polar Urals in the course of implementing a comprehensive investment project “Ural Industrial- Urals Polar.

The implementation of this project would help create a favorable investment climate on the territory of the Urals Federal District and raise investments for constituent entities of the Russian Federation incorporated in the District.