In early July, Vnesheconombank (VEB) signed an agreement with Adam Street Partners, which is an international investment group, according to a recent press release published by VEB.

Currently, Russia has limited access to long-term funding. As such, the main aim of the cooperation agreement is to increase this access and let Russia benefit from other financing resources.

Both VEB and Adam Street Partners are focused on developing a direct investment infrastructure in the country. This could be made possible with jointly-invested funds and other similar strategies.

The agreement has been drafted in compliance with VEB financial policies and the requirements set by Adam Street Partners. It highlights the launch and the development of projects in different sectors, such as energy, medical technology, and so on. All projects would support and strengthen the investment infrastructure while ensuring that resources are utilized efficiently, innovation remains in focus, and small businesses are provided with ample support.

Established in the year 1972, Adam Street Partners directly invests in its share capital the funds derived from both institutional and private investors. These include pension funds, sovereign funds, global enterprises, and private individuals. As of the start of 2013, Adam Street Partners was managing almost USD22 billion.