PPP IN INFRASTRUCTURE DEVELOPMENT …Презентация PowerPoint Author:...
Transcript of PPP IN INFRASTRUCTURE DEVELOPMENT …Презентация PowerPoint Author:...
PPP IN INFRASTRUCTURE DEVELOPMENT
VNESHECONOMBANK’S EXPERIENCE
VEB AT A GLANCE
60.4bln. USDtotal assets
9.6bln. USDtotal equity
44.7bln. USDloan portfolio
FUNDING AND FULFILLING OBLIGATIONSIn February and November 2017, Vnesheconombank repaid 2 issues of its Eurobonds with a total nominal value of USD 1 350 mln. in accordance with the terms of the issue
VEB placed 5 issues of domestic bonds with a total nominal value of RUB 80 bln and USD 550 mln with settlement in Russian rubles
SOUND AND CONSISTENT GOVERNMENT SUPPORTVnesheconombank received subsidies in the total amount of RUB 107.6 bln.
CAR is maintained at above 15%
LENDING ACTIVITYVnesheconombank granted RUB 107.9 bln. of new loans
As at September 30, 2017 total loans to customers (after allowance for impairment) amounted to RUB 1 767.4 bln.
Strategic role for the Russian economy
100% state-owned entity with a unique legal status under ad hoc federal law not subordinated to the Bank of Russia
Supervisory Board represented by top government officials and chaired by Prime Minister
VEB is exempt from profit tax
Direct equity contributions from the Federal Budget –proven track record of Government Support
Total Assets of the Group represent more than 4.2%1 of Russia’s GDP
International credit ratings on par with the Russian sovereign
Russian Federation
Federal City
5 mln.inhabitants
St. Petersburg
VEB DECISION:
Fastest growing
Important port on the Baltic Sea
High technology industry
Attractive destination for tourists
ST. PETERSBURG
Lagging infrastructure(airport, road, connection with Moscow)
Insufficient investments for a long time
PROBLEMS:
PPP mechanism
Consortium of the largest banks
Involvement of private investors
NEW TERMINAL OF PULKOVO AIRPORT
Launched in December 2013
Built in 40 months - record short term
Design:English architectural bureau ”Grimshaw Architects”
The capacity increased from
14 million to 17 million passengers per year
11088172
60
passport control cabins
check-in counters
departure gates
runways with the width of
meters (3780 m & 3397 m)
144 mln. EUR VEB participation
1,16 bln. EUR total cost
144 payback period
WESTERN HIGH-SPEED DIAMETER(Intracity toll motorway)
2005 the beginning of construction of the fist section
2008 the first section of highway opened
2012 the second section of highway opened
2013 the beginning of construction of the third section
2016All the sections opened. Chairman of VEB Mr.Sergey Gorkov participated in the openingceremony alongside with the President of theRussian Federation Mr. Vladimir Putin
Launched in December 2016
464-8
9100
km - total length
road lanes
traffic junctions
thousand cars - average daily traffic
2 bln. USD total cost
430 mln. USD VEB participation
FEDERAL HIGH SPEED HIGHWAY MOSCOW-ST.PETERBURG (M-11)15-58 km
1,22254
2015
bln. USD total project cost
mln. USD VEB participation
highway opened Moscow Oblast section
2020 all sections of the highway will be open
7004-10
85150
km - total highway length
number of lanes
bridges
km/h speed limit
Part of the International “North-South” Transport Corridor
First Russian PPP – project in Road Infrastructure
13348
547318
years (2018-2030)term of construction
mln. USD total construction Cost
% interest rate
mln. USD total Cost
years – Payback period
PPP MechanismInfrastructure Bonds (Private investors)
Government Subsidy
Bank LoanResults
Social effect (comfortable & affordabletransportation to\from the Airport)
Jobs creation (during construction, maintenance & operation)
Tax flows (during construction)
Unique experience of usingPPP – mechanism in Public transportcan be replicated in the future
RAIL LINK TO AIRPORT
LESSONS LEARNT
High-tech infrastructure is never too much
Creates economic activity
Creates opportunities for privatecompanies
Capacity building is essentialNew approach to standard tasks
Companies and employees are ready to work with complicated projects
Government is ready to provide long-term guarantees
Government is ready to finance early stage projects
Advance thinking
Solve a problem before it arises
High quality forecast is the key
Long-term planning is crucial