Putin Calls for Review of Modern Financial Center Creation at Eastern Exchange

VLADIVOSTOK, September 3. /TASS/. The government and the Central Bank must thoroughly review the creation of a modern financial center based on the Eastern Exchange, Russian President Vladimir Putin said at the plenary session of the Eastern Economic Forum (EEF).

"To expand the participation of international capital in our Far Eastern and Arctic projects, we need to leverage the potential of the Eastern Exchange. As I said earlier, we plan to establish a modern financial center based on it. I’m asking the government and the Bank of Russia to thoroughly address all these issues," Putin said.

He noted that a national standard for public-private partnerships is also intended to facilitate the implementation of infrastructure projects. "It was developed with the involvement of Vnesheconombank and came into force on September 1. The standard's objective is to achieve a more efficient risk distribution and increase the efficiency and return on infrastructure investments," Putin added.

Furthermore, the president recalled that a long-term financing model has been developed to attract so-called long money to public-private partnership projects, primarily through the issuance of concession bonds. "I ask my colleagues to monitor how this model works in practice and, if necessary, fine-tune it," Putin said.