To engage with the Fund, applicants need to fill out the investment request on the Fund’s site. The request is reviewed by the investment committee which, guided by the preset project criteria, decides on the expediency of further review of the project by the Fund. The term of the investment request review does not exceed one week.
In the course of interaction with the project initiator the Fund clarifies various aspects of the project and elaborates upon the preliminary terms of financing. The main result of the preliminary analysis is the finalized draft agreement of intentions. The main terms of the Fund’s participation in the project are agreed with the Investments Committee at the Fund’s Board of Directors.
3Integrated expert evaluation
In case the Investments Committee at the Fund’s Board of Directors agrees upon the main terms of the Fund’s participation in the project, an integrated expert evaluation of the project is carried out, including with the involvement of external experts (advisors, independent appraisers). Independent experts are attracted at the expense of the project initiators. The given expert evaluation usually lasts 1-2 months. Upon the completion of integrated expert evaluation (analysis and structuring of the deal) and finalization of the main provisions of the transaction documentation, the project is submitted to the Fund’s Board of Directors for review.
4Prioritizing the project
The Subcommittee on Implementation of Investment Projects in the Far East of the Government Commission on Matters of Socioeconomic Development of the Far East (hereinafter: Subcommittee) reviews the project in accordance with Section IV of the Methods of Selecting Investment Projects planned for delivery in the territory of the Far East and Arctic, endorsed by Resolution #1055 of the Russian Government, dated 16 October 2014, for purposes of its prioritization and financing by the Fund from the funds allocated for Vnesheconombank from the federal budget.
In case of appositive decision made by the Fund’s Board of Directors and the Subcommittee, the Fund signs necessary documents in accordance with the finalized (suspensive) terms and starts financing the project.
Control provides information on the course of the project delivery on a regular basis, along with a report on the spending of the Fund’s financial resources, information about the execution of the financial and behavioral terms, ensuring access to the company for audits. The Fund provides financing in keeping with the finalized schedule and meets other conditions in accordance with the signed documents.