RDIF and EBRD roundtable prepares recommendations on unlocking infrastructure investments for G20 leaders
Press release, 21.05.2013
London, May 21, 2013. – On Tuesday 21 May, the Russian Direct Investment Fund (RDIF) and the European Bank for Reconstruction and Development (EBRD) hosted a roundtable discussion in London on attracting private sector financing for infrastructure projects.
Kirill Dmitriev, CEO of the RDIF, and Thomas Maier, the EBRD’s Managing Director for Infrastructure, led the discussions. The keynote address was delivered by Katrina Haley, Head of Structured Bonds, EMEA, for HSBC.
Speakers also included James Stewart, Chairman, Global Infrastructure at KPMG, Philippe Guitard, CEO Europe of Veolia Water, Alex Wong, Senior Director, Business Engagements, from the World Economic Forum, Pierre Olivier Bou?e, Managing Director of Prudential, Mark Richards, Partner of Berwin Leighton Paisner, Danny Truell, Chief Investment Officer of The Wellcome Trust and Jan Dirk Waiboer, Senior Partner and Managing Director of The Boston Consulting Group.
The event was attended by over 50 institutional investors, capital markets specialists and the operators of international infrastructure projects who discussed global investment opportunities in sectors such as transport, telecommunications and energy.
Discussions were wide-ranging but focused on potential funding mechanisms to attract large-scale private investment so as to jointly finance infrastructure projects, as well as what institutions can and should be created to support these investments.
The potential role of international financial institutions (World Bank, IMF, EBRD) in attracting private capital was also discussed. Many of the roundtable recommendations will be included for consideration by the B20 taskforce on investments and infrastructure, which is headed by Kirill Dmitriev.
Kirill Dmitriev, CEO of the RDIF, said:
“Unlike the developed countries of Western Europe, where private investors fund most infrastructure projects, the appetite for such transactions is only beginning to develop in emerging markets. To accelerate this process, we must minimise the risks for long-term investors. This can be done by removing restrictions on foreign investment and implementing global best practice for investments in infrastructure projects. As a result, we could obtain a significant improvement in investment efficiency, which could help save up to US$1 trillion a year globally.”
Mr. Thomas Maier, the EBRD’s Managing Director for Infrastructure, said:
“The EBRD attaches great importance to investment in infrastructure projects since they are an essential driver of economic growth and contribute to raising living standards. Investments in projects related to energy efficiency upgrades are our top priority.”
Kirill Dmitriev, CEO of the RDIF, chairs the B20’s business group taskforce on investments and infrastructure, created during Russia's Presidency of the G20. The taskforce works as a G20 body and includes business leaders from member states.
The taskforce’s recommendations will be presented to the Russian Federation’s political leaders and business community during the June 20-22 St. Petersburg International Economic Forum and will serve as the basis for recommendations to the G20 Summit which will be held in St. Petersburg on September 5-6.
The Russian Direct Investment Fund (RDIF) was established in June 2011 to make equity investments primarily in the Russian Federation. RDIF’s management company is a 100 per cent subsidiary of Vnesheconombank. In each investment it makes, RDIF is mandated to secure co-investment that as a minimum matches its commitment, thus acting as a catalyst for direct investment into the Russian economy. Further information at www.rdif.ru
The European Bank for Reconstruction and Development (EBRD), owned by 64 countries and two intergovernmental institutions, is supporting the development of market economies and democracies. Follow us on the web, Facebook and Twitter.
For more information please contact:
EBRD Press Office
Tel: +44207 338 6997
RDIF Press Secretary
Tel: +7964726 1773
Andrew Hayes/Maria Ignatova/Elena Kuza/Charlie Barker
Tel: +44 (0) 20 7796 4133