After the President of Russia, speaking at the St. Petersburg
International Economic Forum in 2017, announced the mechanism of
"infrastructure mortgage" to support priority growth
rates of Russia's economy, business and the expert community
put forward different proposals as to what precisely the mechanism
would involve. In particular, the Ministry of Economic Development
of Russia proposed considering the possibility of creating an
infrastructure mortgage fund to provide private partners
(concessionaires) with capital grants. The money would be raised
through state guaranteed bonds of up to RUB 300
billion1. However, the Ministry of Finance did not
support this idea.
Following lengthy discussions in the Russian Government, on
March 12 the so-called infrastructure mortgage roadmap was
approved by Dmitriy Medvedev and published on the Russian
Government's website, thereby fulfilling the
President's orders2.
