The World Bank announced recently that it has signed a Reimbursable Advisory Services Agreement with State Company Russian Highways (AVTODOR) to develop a methodology for assessing the company's investment project effectiveness.
The agreement was signed by Michal Rutkowski, the World Bank country director and resident representative in the Russian Federation, and Sergei Kelbakh, the head of AVTODOR, on June 30.
Under the agreement, a team of World Bank experts will design and propose a methodology that will not contradict Russia's regulatory and legal framework.
The methodology is aimed at identifying the viability of implementing projects through either traditional procurement methods or public-private partnership schemes.
The World Bank's team and AVTODOR will work together to identify two construction projects with national and/or regional significance.
The agreement is set to be implemented before the end of October 2015.
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