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Gov't to issue bonds to fund infrastructure projects
RBC, 07.11.2008, Moscow 17:54:51.The government has scheduled to issue infrastructure bonds in the first quarter of 2009 to finance infrastructure projects based on private-public partnerships. The issue will be part of the government's effort to shore up Russia's financial sector and certain economic areas approved by Prime Minister Vladimir Putin today. The bonds will be guaranteed by the state and Vnesheconombank. Earlier, Transportation Minister Igor Levitin said part of public pension accruals managed by Vnesheconombank would be used to issue infrastructure bonds in order to fund the transportation network development. The move to use pension funds was approved by Putin today, although the PM stressed the need to guarantee repayment and returns on the bonds.
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