The North Caucasus Development Company, a subsidiary of the Bank for Development and Foreign Economic Affairs, will be headed by Anton Pak, top-manager of the IFC.
The North Caucasus Development Company, a subsidiary of the Bank for
Development and Foreign Economic Affairs, will be headed by Anton Pak,
top-manager of the IFC, Yuga.ru reports.
Vedomosti paper said that Pak entered Rosbank from the International
Financial Club (IFC) bank in 2009 as a deputy CEO of the bank. The
bank was founded by Mikhail Prokhorov. Its shareholders are Alexander
Abramov, Victor Vekselberg, Suleyman Kerimov and others. The IFC
specializes on complicated debts and serving wealthy clients.
Yuga.ru said that the head of the Bank for Development and Foreign
Economic Affairs, Vladimir Dmitriyev, announced foundation of the
North Caucasus Development Corporation (NCDC) in September 2010. The
NCDC will invite Russian and foreign investments to the North
Caucasus. The main office will be in Yessentuki. 30-40 people will be
servicing the office.
The charter capital of NCDC will be 500 million rubles, the Bank for
Development and Foreign Economic Affairs will provide additional
financing. The corporation will support projects related to
agro-industrial sector, construction materials, and infrastructure.
The NCDC will be a co-investor in some projects, but not a creditor.
The corporation will become the second state structure for inviting
investments to the North Caucasus. The government formed the North
Caucasus Resorts company in mid-2010 for development of the tourist
cluster in the region. Vice-President of the Russian Olympic Committee
Ahmed Bilalov will supervise 5 skiing resorts worth $15 billion in the
North Caucasus.
According to the Strategy of Development of the North Caucasus until
2025, average wages in the region should rise from 9600 to 23800. The
number of citizens living below the poverty level should drop from
16.5% to 9.2%, Lenta.ru reports.
