FGC, EDB agree to cooperate on investment project financing
MOSCOW. June 22. (Interfax) - OJSC Federal Grid Company UES and the Eurasian Development Bank (EDB) signed a cooperation agreement during the St. Petersburg International Economic Forum, the Russian company said in a statement.
The document provides for setting up long-term cooperation in financing investment projects to construct and reconstruct facilities in Russia's Unified National Energy System.
FGC UES owns and manages power grid facilities of Russia's Unified National Energy System. The Russian government is its controlling shareholder.
The EDB is an international financial organization founded in 2006 by Russia and Kazakhstan to develop the market economies of its participants, which include Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan.