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12 may

Ministry of Economic Development in search of new instruments for financing infrastructure

The Ministry of Economic Development of Russia is currently preparing proposals to increase investment activity in the development of public infrastructure, Minister of Economic Development of the Russian Federation Maksim Oreshkin said in an interview to the Russia-24 TV channel.

According to Maksim Oreshkin, investment activity has been steadily rising since the middle of 2016. However, as the "problem areas of the Russian economy," the head of the Ministry of Economic Development called the underrun of infrastructure investment. "We see that in the past 2-3 years both at the level of the federal budget and the regional budget, investment in infrastructure under the budget consolidation program has undergone very serious reductions," Oreshkin said.

"Now we are working very hard to come up with new financing instruments in the area of infrastructure costs, which would allow us to increase investment at the expense of the leverage," the head of the agency said, noting that this measure will become one of the most powerful driving forces of the Russian economy.

According to him, it is a mechanism for using PPP, "where revenue sources will be provided by payment from regions and companies that are interested in developing infrastructure."

The minister explained that the agency plans to institutionally build such a system, where it is clear who is the beneficiary of the construction of a particular infrastructure facility, "because it is often not some specific company, but the region at large or the country at large."

At the same time, according to the new scheme for attracting investment, the beneficiaries will continue to provide cash flow for projects: "on the basis of this cash flow, it will be possible to attract credit resources that will provide the necessary financing." He also clarified that this scheme is similar to the infrastructure financing mechanisms that operate in China.

The 770-kilometer Moscow-Kazan HSR project is planned on the principles of PPP through concession.


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