EBRD to become a co-investor in RUSNANO projects

A solemn ceremony of signing the Memorandum of Understanding between RUSNANO and the European Bank for Reconstruction and Development took place of 7 december. The document was signed by Anatoly Chubais, RUSNANO CEO, and Alain Pilloux, Director for Russia, Advanced Transition Countries and Specialised Industries.

The Memorandum documented the intention to expand cooperation between RUSNANO and the EBRD, as this organizations share common goals: to promote the commercialization of promising scientific and technological advancements and create conditions for sustainable innovation development.

In particular, the parties intend to jointly fund nanotechnology projects in Russia. The EBRD intends to invest in such projects from 500 million to 1 billion euros in the medium term. The following fields of co-financing are marked as priority in the Memorandum: energy efficiency and energy conservation, health and medicine, microelectronics and nanoelectronics.

The parties also intend to attract other co-investors, such as investment funds, credit and export credit agencies, Russian and international financial institutions and other, to participate in the ongoing nanotechnology projects.