telecom industry only in mid-2019.

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"We are partners of all major players in telecom. We are a private bank and always act as a financial, not a strategic partner. Communication networks are becoming obsolete, data transfer speeds are decreasing, and traffic consumption both in Russia and in the world, including by banks and data centers, is growing. Therefore, the kuwait whatsapp resource TEA NEXT project will be in high demand. We hope that the geopolitical situation will improve and foreign partners will join the project, and that the project will become a participant in the VEB.RF Factory. A couple of months ago, we created a direct investment fund, we are looking at different industries and offering investments of up to 10 billion rubles," said Alena Berdnikova.

Managing Director of the VEB.RF business unit Oleg Demidov spoke about the Project Financing Factory program: "The Russian government has chosen VEB.RF as the operator of the program to support complex investment projects over long periods. The initiator has the opportunity to receive long-term money at a fixed interest rate. The fixed maximum interest rate (CAP) is about 11% per annum, but when the key rate decreases, the CAP on the rate under the program will also decrease."

According to Oleg Demidov, in return, the Russian government requires the project initiators to comply with a number of conditions: it must be a profitable project in terms of risks and it must help implement the national development goals determined by the Russian president and the Russian government.

"With the help of the Factory, we have supported projects worth trillions of rubles in various industries. Projects with an emphasis on digitalization are in high demand. And if the examination shows that all the financial metrics that the initiator includes in the project are feasible, then we are ready to show the project to the government so that it can be included in the perimeter of the Project Financing Factory," added Oleg Demidov.

"There was a question of how to build up the "meat" (optical lines to large cities in Russia) on the "ridge" (the main fiber-optic communication line of the TEA NEXT project from the western to the eastern border of the Russian Federation). If the industry is ready to use this project, and it itself will be built in accordance with the logic of the Project Financing Factory, we will be happy to consider it," said Oleg Demidov.

A source at VEB.RF told a ComNews correspondent that this structure is ready to offer Atlas project financing through a Russian government program, but this can only happen after the company reaches an agreement on the construction of the underwater part of the fiber-optic communication line to the South Korean port of Busan.

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