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4.2. Infrastructure Mortgage. International Experience in Developing Legal Mechanisms for Infrastructure Development

Wednesday, May 16
17:00 - 18:30

Hall #1, General Staff Building (6-8, Dvortsovaya sq.)

Reconstruction of the existing infrastructure and creation of the new facilities are major challenges in the social and economic development of Russia in the coming years.

There is a lack of infrastructure in different areas of the economy, including transport, utility sector, health, education, etc.

However, the funding of infrastructure projects is not only the Russian problem, and the experience in solving the problem of underfunding of infrastructure has been accumulated globally, including the public-private partnership mechanisms.

One of the tools that Russia intends to use is the infrastructure mortgage that implies the development of an infrastructure facility by the private investor on his own or loan funds, and purchasing of this facility by the state “in installments”.

It is important to delve into the legal problematics of this tool in order to understand its essence.

What are the current global trends in the development and application of legal mechanisms for funding infrastructure projects? What are the main legal aspects of the infrastructure mortgage mechanism? How will this tool differ from other funding mechanisms? How to distinguish infrastructure mortgage and the other forms of the state support for infrastructure (concessions, public procurement, etc.), and how to protect this tool from the risk of reclassification? What requirements must a project meet in order to have access to this tool?

The participants of the discussion session will discuss these and other issues during the event.

Moderator

Mikhail Rasstrigin

Deputy Minister of Economic Development of the Russian Federation

Speakers

Aleksey Chichkanov

Executive Vice President, Gazprombank JSC

Ekaterina Papchenkova

General Director, International and Comparative Law Research Center

Biography

Master's degree, National Research University Higher School of Economics and Russian School of Private Law.

2013 – 2014 – The Supreme Arbitration Court of the Russian Federation.

2014 – 2015 – Analytical center FORUM.

2015 – 2017 – Department of the Distressed assets, Sberbank.

2017 – to date – General Director, International and Comparative Law Research Center.

Gerard Sanders

General Counsel, Asian Infrastructure Investment Bank

Biography

Education, academic degree:

Mr Gerard Sanders graduated B.Com., LL.B. from the University of Otago, New Zealand, and has graduate law degrees from Victoria University of Wellington and Harvard Law School.

Professional experience:

Mr Gerard Sanders joined the Asian Infrastructure Investment Bank (AIIB) as General Counsel in August 2016. For the previous two years, he was General Counsel at the International Fund for Agricultural Development, a specialized agency of the United Nations, working at its headquarters in Rome. Previously, Mr Sanders held various positions at the European Bank for Reconstruction and Development working in its principal office in London, most recently as Deputy General Counsel. Earlier in his career, Mr Sanders worked for law firms in Wellington, Washington, D.C. and Amsterdam and in a corporate legal role in London.

Specialist area, professional interests:

Mr Gerard Sanders is qualified to practice law in New Zealand, the State of Victoria, Australia, and England and Wales. He is a Chartered Accountant (NZ). Mr Sanders is a Fellow of the Chartered Institute of Arbitrators, a Chartered Fellow of the Chartered Institute for Securities and Investment, a member of the Law Society of England and Wales and a member of Chartered Accountants Australia and New Zealand.

Ilya Sedov

Senior Vice President, Russian Direct Investment Fund

Elena Semenova

Head of Legal and Public-Private Partnership Department, Federal Road Agency

Dmitriy Tvardovskiy

Chief Executive Officer, Federal Center for Project Finance


* The Programme may be subject to change