In accordance with the Decree of the Government of the Russian Federation No 1455-r of October 5, 2009 on the Return of Temporarily Free Funds of State Corporations to the Budget of the Russian Federation, RUSNANO transferred $2,177 billion (66,4 billion rubles) to the bank accounts of the Federal Treasury of the Russian Federation.
According to another Decree of the Government of the Russian Federation No 1454-r of the same date, the transfer of RUSNANO’s free funds to the state budget is carried out on a return basis: it is expected that in 2010-2012 these funds will be transferred back to the Corporation.
The remaining funds available to RUSNANO amount to $1,348 billion (41.15 billion rubles), they will be utilized to finance the Corporation’s investment projects in 2010.
These funds are now temporarily placed in the commercial banks, selected by the closed request for proposals, that ended yesterday, on December 15, 2009. 13 banks, which undergone pre-qualification to meet the requirements established by the Ministry of Finance of the Russian Federation and the Corporation, participated in the closed request for proposals. As a result of this procedure, the temporarily free funds are now placed in the following credit institutions: Uralsib, Bank Saint Petersburg, VTB, Nomos-Bank, Bank of Moscow.
RUSNANO is the abbreviated name of the Russian Corporation of Nanotechnologies. The Russian Corporation of Nanotechnologies (RUSNANO) was established in 2007 by the Federal law № 139-FZ to enable Government policy in the field of Nanotechnology.
To accomplish this task, RUSNANO co-invests in nanotechnology industry projects that have high commercial potential or social benefit. Early-stage investment by RUSNANO lowers the risk of its investment partners from the private sector.
RUSNANO participates in building nanotechnology infrastructure, which includes the nanotechnology centers of excellence, business incubators and early stage investment funds. RUSNANO provides scientific and educational programs that are required for its investment projects to succeed, and also supports the popularization of nanoscience and nanotechnology. RUSNANO selects promising spheres for investment based on longer-term foresight created by the leading Russian and world experts.
