CHEAP LOANS TO CITIESOn May 28, 2008 the 8th Annual Conference ?Russian regions and cities:organization of investment plans financing? was held in Moscow.

CHEAP LOANS TO CITIES

On May 28, 2008 the 8th Annual Conference ?Russian regions and cities: organization of investment plans financing? was held in Moscow. The conference was organized by MAG (International Assembly of Capitals and Metropolises) and the State Debt Committee of the City of Moscow.

The conference gathered representatives from the administration of the President of the Russian Federation, federal legislative and executive bodies, biggest Russian and foreign banks, investment companies etc.

The agenda of the conference included such urgent issues as present-day problems of economical development of Russian regions, importance of investment activities in the regions, new methods and ways of attraction of external financing etc.

Vice-President of MAG Mr. Mikhail Sokolov spoke about the activities the organization conducts in connection with investment plans financing. He proposed creation of Municipal Financing Agency at national level as one of innovational solutions aimed to meet financial needs of municipalities including those directed to implementation of priority national projects at regional and local levels. This Agency must be established in the form of Government Corporation. It would make state-guaranteed long sighted bonded loans and use the debt funds for centralized crediting of Russian municipalities. The Agency will provide cities with cheaper loans comparing with independent issue of bonds.  

In the past years the conference title was ?Russian regions and cities: loans as a tool of economic policy?.  This annual event gathers up to 400 delegates: 30% represent legislative and executive authorities of Russian Federation, Russian regions and cities, 50% - banks, investment companies and financing structures, and 20% - non-governmental organizations and mass media.
 
The materials of Executive Vice-President of MAG Mr. Sokolov are published on the website www.e-gorod.ru

The information has been provided by the press-center of MAG.

28.05.2011

Back to the list