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Vneshtorgbank to help attract German investments to Urals

27 April 2002

Russia`s Vneshtorgbank is determined to actively cooperate with major German companies in projects to attract investments to the Urals Federal District, Vneshtorgbank President Yuri Ponomaryov said at the closing ceremony of the second international conference for foreign investments in the Urals in Frankfurt-am-Main on Saturday.

 He stressed the development of political relations between Russia and Germany, which accelerated after the visit of President Vladimir Putin to Berlin and Weimar, should inevitably lead to the expansion of joint businesses and economic ties.

 "We should fill credit lines with concrete deals. Now that Russia`s credit rating has grown, we should promptly respond to the favorable investment situation," Ponomaryov said.

 In his opinion, the annual credit ratings of Russian companies and regions should play an important role in attracting investments. "There can be no major investments without confidence and there can be no confidence without disclosing information," he said.

 Ponomaryov was sure that Vneshtorgbank "by virtue of its size, experience and ties with the international financial community, can become an active participant in crediting and investing in the development of the Urals Federal District."

 The international conference was organized by Interfax news agency and the administration of the Urals Federal District with support from the German Council for Foreign Economic Relations and the Frankfurt Urban Development Society.

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