FRD will control the “Corporation of development of Sakhalin region”

FRD will control the “Corporation of development of Sakhalin region”


The Fund, in particular, transferred the functions of organization of investment activity, attracting lenders and investors, the search for potentially interesting in terms of investment objects.

MOSCOW, 16 Jan. The development Fund of the Far East and the Baikal region (FRD) received in the office of the “Corporation of development of the Sakhalin region” (KRSO) with a registered capital of 50.2 billion rubles, said similar to the Fund source.

“The Fund’s Board of Directors on Monday approved the decision to transfer FRDW the powers of the sole Executive body of “Corporation of development of the Sakhalin region” (KRSO). To date, the authorized capital stock of the Corporation of development of the Sakhalin region is 50.2 billion rubles,” — said the source.

According to him, the Fund, in particular, transferred the functions of organization of investment activity, attracting lenders and investors, the search for potentially interesting in terms of investment objects.

The interlocutor of Agency also has informed that the Board of Directors of the Fund decided to reduce the cost of capital for the initiators of projects in the region will double to 5% from 11% annual in roubles. Previously the target yield of the Fund’s investments in projects in the far East was “floating” and is determined based on the average yield of bonds Federal loan for three years, now the yield will be fixed.

According to the source, at the meeting of the Board of Directors General Director Alexey FRD Chekunkov reported that this year the Foundation will conduct “more aggressive investment policy.” “We intend to modify the rules to re-adjust investment processes to become even more effective development institution for the region. The reduction in the price of capital is only the first step in this direction”, — said Chekunkov.

The development Fund of the Far East and the Baikal area was established on the initiative of the Russian President and Prime Minister of the Russian Federation. Investing in the creation of new enterprises and infrastructure, which have significant socio-economic effect. The Fund is part of a coherent system of state institutions created for the accelerated development of the Far East. The Fund’s authorized capital — 15.5 billion rubles.