Risk Control: State Support Tools to Manage Investment Risks
Last year, Russia achieved its highest investment growth in 12 years. The structure of investments is also changing. Investment projects are becoming more complex and technologically advanced, while the state is taking more integrated approaches to sharing risks with business. The government offers investors a wide range of working tools. As part of the Project Finance Factory, the state not only hedges risks using traditional tools to reduce interest and credit risks for investors and banks. They are also sharing shareholder risks now as well. Russia has launched the Taxonomy of Technological Sovereignty project, which makes it possible to receive guarantees from VEB.RF to cover banks’ direct credit risk. The PPP and concession mechanisms help to distribute the risks of implementing infrastructure projects between the state and private investors. Co-financing from the National Welfare Fund can attract long-term anchor funds for a project. Development institutions play an important role in managing the risks of investment projects by insuring the risks of economic cycles and difficult stages of projects for both investors and the state. How can investors make effective choices and combine mechanisms? What are the possibilities and limitations? Is the current set of tools optimal and what potential do they have?
Moderator
Kirill Tokarev,
Editor-in-Chief, Anchor, RBC
Panellists
Sergey Gavrilov,
Сhairman of the Committee of the State Duma of the Federal Assembly of the Russian Federation on Property, Land and Property Relations
Nikolay Zhuravlev,
Deputy Chairman of the Federation Council of the Federal Assembly of the Russian Federation
Anatoly Popov,
Deputy Chairman of the Executive Board, Sberbank
Ilya Torosov,
First Deputy Minister of Economic Development of the Russian Federation
Petr Fradkov,
Chairman, Promsvyazbank
Nikolay Tsekhomskiy,
First Deputy Chairman – Member of the Board, VEB.RF
Front row participant
Asabali Zakavov,
General Director, Bashkir Concession Company