RosGeo and Gazprombank signed a cooperation agreement in order to establish an entity to be specialized in funding of the geological exploration activities. The fund is to be established in 2020 The appropriate document was signed today on the sidelines of St. Petersburg International Economic Forum by Sergey Gorkov, Director General - Chairman of the Governing Board of RosGeo, and Andrey Akimov, Chairman of the Governing Board of Gazprombank.
The established fund will provide financing for Russian companies to carry out the geological exploration works in the promising areas in the territory of the Russian Federation (including those at the survey and assessment stages). It is expected that the Fund will participate in management of these enterprises.
In addition, RosGeo and Gazprombank intend to consider the opportunities for joint implementation of other projects, including those in the sphere of digitalization of subsurface management, development of specialized software, advanced equipment and instrumentation for geological exploration, elaboration of technologies.
“The development of partnership in this form is an important step toward attracting investments in the geological exploration in Russia," - noted S. Gorkov. - In today's budget deficit it is only through establishment of such tools, stimulation of junior business development and public-private partnerships in the industry we can resolve the outstanding problems, including the provision and replenishment of the mineral resource base in the country to the necessary extent".
