Gazprombank to fund nurseries, schools to 2016
KRASNOYARSK. March 3 (Interfax) - Gazprombank is willing to finance the construction of nurseries and schools in the regions, estimating the market at 100 billion rubles to 2016.
"We are probably the only bank at the moment that have real public-private partnership projects in the area of social infrastructure in our portfolio: we are talking about nurseries and schools. We are willing to expand this practice to all regions that are interested in raising extra-budgetary funds for such non-market infrastructure," Gazprombank Executive Vice President Alexei Chichkanov told Interfax on the sidelines of the Krasnoyarsk Economic Forum Friday.
"We have an understanding of how such projects can be financed and convenient terms for regions to avoid increasing the debt burden on their budgets," he said.
There are already regions that are also interested in such projects, Chichkanov said. The bank itself is willing to fund construction of such facilities in all Russian regions, which would eliminate the queues for such facilities.
Gazprombank has estimated the capacity of the market "based on the queues that exist in Russia and the Russian president's instructions to eliminate these queues by the end of 2015," he said. "We think that to eliminate the queue by 2016 around 100 billion rubles in general is required."