A socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events.

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5,000 people working in Russia and abroad.

The Foundation works alongside various UN departments and other international organizations, and is building multi-format cooperation with 173 economic partners, including industrialists’ and entrepreneurs’ unions, financial, trade, and business associations from 78 countries worldwide, and 188 Russian public organizations, federal and legislative agencies, and federal subjects.

The Roscongress Foundation has Telegram channels in Russian t.me/Roscongress, English – t.me/RoscongressDirect, Spanish – t.me/RoscongressEsp and Arabic t.me/RosCongressArabic. Official website and Information and Analytical System of the Roscongress Foundation:roscongress.org.

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Post-electoral infrastructure of Russia

The overview was published specifically for the 22nd St. Petersburg International Economic Forum. Infrastructure development is one of the leitmotifs of new May presidential decrees. It is unlikely that the authorities will be able to find enough funds to cover the industry’s minimum requirement of RUB 2.3 trillion independently (according to the most optimistic estimate).

To solve Russia’s infrastructure problems, it will be necessary to attract investments from quasi-public, private and external sources that is to increase project financing. The share of new project financing transactions in 2017 was only 0.28% of GDP. But 41% of this volume was accrued to transactions in the oil and gas sector, and the infrastructure remained underfunded. The amount of private funds contributed to the industry through project financing, according to InfraONE estimates, is unlikely to exceed 0.09% of GDP or RUB 83 billion. This amount could be higher by n-fold, since there is enough liquidity for the infrastructure in the market — at least RUB 2 trillion.

The main problem is not the lack of money, but the inability to «take» them. There are still a few projects, and for those that are implemented classical schemes to attract money are often used, and eventually more expensive investments are received than they could be. In recent years, the difference between the conditions that financial institutions offer during the negotiations and during the financial closing process has decreased to 0.65%-1.5%, but there are still some larger market distortions. The most popular form of financing is debt, syndicated loans and various forms of project bonds are rare. For project financing, new markets are opening up — energy, landscaping, waste management, sea and river vessels, icebreakers, socio-cultural facilities and others. Many public infrastructure markets in Russia have so far been completely closed for investors: penitentiary system, space infrastructure, border crossing points, air infrastructure.

All these projects are successfully developed by private investors abroad through public-private partnership. In Russia, projects could also be implemented, but this will depend on lobbying by profile players and, in some areas, on mentality.

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