The role of extrabudgetary investments in the implementation of national projects was discussed during the Russian Week of Public Private Partnership

24 april 2019

"Development of any country, including Russia, largely depends on infrastructure sophistication. With due account for the size of our country, the transport infrastructure maturity is of special concern," said Vladislav Onischenko, Head of the Analytical Center in his opening speech at the plenary session of the Russian Week of Public Private Partnership. The plenary sessions was dedicated to the function of extrabudgetary investments and public private partnership mechanism in the implementation of national projects.

Today, the infrastructure development goal is presented in the form of national projects. The total volume of financing of national projects is RUB 25.7 trillion including RUB 7.5 trillion to be attracted form extrabudgetary sources. This is quite a sophisticated problem which requires a well-coordinated team work of government and business.

Onischenko reminded that the public private partnership is one of possible mechanisms for raising extrabudgetary funds. "This mechanism was first applied in 2005 when the law on concessions was adopted. Currently, the private public partnership is one of the effective tools for raising private funds and thus for introducing best technical and managerial solutions to infrastructure projects."

Ways for integrating public private partnership mechanism to national projects, underlying potential problems, and the solutions that should be employed by the government to provide comfortable conditions for business were discussed by the participants of the plenary session: Mikhail Rasstrigin, Deputy Minister of Economic Development, Evgeny Kislyakov, Deputy Minister of Digital Development, Communications and Mass Media of the Russian Federation, Dmitry Pankin, President of the Black Sea Trade and Development Bank, Vadim Mikhailov, First Deputy General Director of Russian Railways, Mikhail Chachin, Vice President of Sberbank, Yuriy Korsun, Deputy Chairman of the State Corporation VEB.RF, Pavel Seleznev, Chairman of Administration of the National Center of Public Private Partnership, and the others.

The infrastructural congress "Russian Week of Public Private Partnership" is the largest event in Russia and CIS devoted to attracting investments for the development of infrastructure and implementation of public private partnership projects. The congress agenda includes the topics related to the role of extrabudgetary investments for national projects as well as Comprehensive Plan for Development of the Transport Infrastructure, strengthening of the role of international development institutes in public private partnership projects in Russia, introducing non-financial support mechanisms, etc.