President of the New Development Bank K. V. Kamath Discussed Potential Projects and Bond Issuance in Russia at SPIEF-2016
The President of the New Development Bank K. V. Kamath has discussed potential projects and bond issuance in Russia during his meetings with high-ranking officials and business leaders at the 20th St. Petersburg International Economic Forum (SPIEF).
On June 16, K. V. Kamath met the Minister of Economic Development of the Russian Federation Alexey Ulyukaev and Deputy Minister Stanislav Voskresenskiy. The meeting was focused on Bank’s operations in Russia and the expansion of project pipeline. It was agreed that the Ministry would provide a list of project proposals for the NDB, including port infrastructure, agriculture, etc.
The first Russian local bond issuance was also discussed at the meeting. The Ministry of Economic Development expressed full support for the Bank’s firm commitment to provide local currency financing and willingness to assist the NDB in this endeavor. It was agreed that Mr. Ulyukaev would visit the NDB office in July to further expand the cooperation between the Ministry and the Bank
Debut ruble bond issuance and other issues of bilateral cooperation were among the topics discussed by K. V. Kamath and the Chairman of the Management Board of Gazprombank Andrey Akimov.
On the same date, K. V. Kamath met Rustem Mardanov, the Prime Minister of the Government of Bashkortostan Republic, Russian Federation. During the meeting, the Prime Minister made a presentation of a toll road construction project in Ufa. This public-private partnership project envisages construction of a 14-kilometer road connecting the city of Ufa, the capital of Bashkortostan, and federal road M5. The project includes a 1,249-meter long tunnel and 2,577-meter long bridge. Deputy Finance Minister Sergei Storchak and Russian Highways State Company (Avtodor) First Deputy Chairman of the Board Innokenty Alafinov also took part in the meeting.
On June 16, K. V. Kamath also met Anatoly Chubais, CEO and the Chairman of the Executive Board of JSC RUSNANO and JSFC Sistema CFO Vsevolod Rosanov to explore the possibilities of cooperation, including providing equity financing and debt financing for a number of projects in different sectors of economy that are in line with the mandate of the Bank.
The forum also hosted a meeting of K. V. Kamath with India Minister of Petroleum and Natural Gas Dharmendra Pradhan and Indian Ambassador to Russia Pankaj Saran.
St. Petersburg International Economic Forum is an annual international conference dedicated to economic and business issues. Over the last decade, SPIEF has become a leading international platform for the discussion of key economic issues facing Russia, emerging markets, and the world as a whole.