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Vneshtorgbank is to participate in integrated heat supply to Kaliningrad

28 October 2005

On the 28th of October, 2005, a quadrilateral Cooperation agreement was signed by the Government of the Kaliningradskaya oblast, Administration of Kaliningrad, RAO UES of Russia and Vneshtorgbank. The Agreement is aimed at coordinating joint actions of the parties to ensure integrated head supply from the Kaliningradskaya Heat Power Plant-2 (HPP-2) and to manage the municipal infrastructure of head supply.

Under the Agreement, the authorities both of the city and oblast, in collaboration with the RAO UES of Russia and Vneshtorgbank, will develop the necessary procedures, financial and legal rules and conditions of a commercial management of Kaliningrad`s head supply. In particular, the Agreement stipulates a construction of heading main from the Kaliningradskaya HPP-2.

Vneshtorgbank`s participation will provide financial facilities to the project and allow raising considerable credit resources needed for social and economic development of Kaliningrad.

The Agreement is a major step within the framework of Cooperation agreement signed between Vneshtorgbank and the Kaliningradskaya oblast, as well as relationship between Vneshtorgbank and RAO UES of Russia, which is also the Bank`s partner in implementing the Program of lending regional energy companies.

The Agreement was signed by Georgy Boos, Governor of the Kaliningradskaya oblast, Yury Savenko, Mayor of Kaliningrad, Anatoly Chubais, Chairman of the Board of RAO UES, and Andrey Kostin, Chairman and CEO of Vneshtorgbank.

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