New rules of formation and use of Investment Fund of the Russian Federation resources

A new revision of Decision of the Government of the Russian Federation No. 1189 as of December 31, 2009 states the Rules of formation and use of budgetary allocations of Investment Fund of the Russian Federation.

 Budgetary allocations of the Investment fund of the Russian Federation are provided for implementation of investment projects carried out on terms and conditions of the private-public partnership.

An investor wishing to participate in the project supported by the Investment Fund shall correspond to indicators of absolute and relative financial stability approved by the Ministry of Regional Development of the Russian Federation.

Resources from the Investment Fund cannot be received by companies a share of state or municipal participation of which exceeds 25%.

Budgetary allocations of the Investment Fund shall be provided exclusively for the purposes of financing creation and (or) development of capital construction objects of a transport, energy and engineering infrastructure as well as for implementation of concession projects.

Providing state guarantees and resources to investment funds of the Russian Federation entities are excluded from forms of providing budgetary allocations of the Investment Fund.

It is established that allocations of the Investment Fund shall be provided for implementation of national projects in which a share of investors’ financing is at least 25% and for implementation of regional investment projects – at least 50% (before a minimum level of investors’ participation was 25%).