The Ministry of Education and Science has been instructed to draft supplements to the memorandums of understanding on upgrading four detectors of the Large Hadron Collider (LHC) and to make a one-time payment of 2.8983 million Swiss francs to the European Organisation for Nuclear Research (CERN) in 2017. The federal budget for 2017 provides for these allocations. The Russian Government will also earmark 330 million roubles from its reserve fund under the state programme Developing Science and Technology 2013-2020 to Russian organisations for the production, supply and assembly of equipment as Russia’s in-kind contribution to the LHC’s modernisation. Russian scientists will continue taking part in CERN’s international research.

Reference

Submitted by the Ministry of Education and Science.

The upgrading of the detectors of the Large Hadron Collider (LHC) by CERN is envisaged by the protocol on participation in implementing the programme of experiments at the LHC. The protocol is part of the agreement between the Russian Government and CERN on further developing scientific and technical cooperation in high energy physics of 19 December 2003.

 In April 2013, the LHC Resources Review Board – the highest body overseeing LHC experiments – made a decision to upgrade four detectors in 2013-2022.

Considering that Russia is a stakeholder in the operation of the detectors, the Resources Review Board prepared for signing supplements on LHC detectors, in which Russia’s total contribution to their modernisation was estimated at 6.9593 million Swiss francs.

In accordance with the terms of modernisation work, Russia will pay CERN 2.8983 million Swiss francs. Russian organisations will contribute the rest as in-kind contributions.

The Ministry of Education and Science has been instructed to sign supplements to the memorandums of understanding on cooperation on four LHC detectors (LHCb, CMS, ALICE and ATLAS) and to make a one-time payment of 2.8983 million Swiss francs to CERN in 2017. The relevant allocations are envisaged in the 2017 federal budget.

The Russian Government will also earmark 330 million roubles from its reserve fund: 263 million roubles will be paid to the Kurchatrov Institute National Research Centre and 67 million roubles to the RAS Nuclear Research Institute. The Russian organisations will spend these sums on the production, supply and assembly of equipment and spare parts for the LHC experimental complex as Russia’s in-kind contribution to the modernisation of the detectors. These sums have been provided under the state programme Developing Science and Technology 2013-2020.

 Russian scientists will continue taking part in international research at the LHC under CERN.

The documents were reviewed and approved by the Government of the Russian Federation at its meeting on 19 October 2017.

The new version of the Agreement updates functions related to resource mobilisation and financing actions regarding commodities, establishing partnerships to implement development projects in the commodities sector, providing services, and spreading knowledge and information on new and innovative approaches.

Reference

The document has been submitted by the Russian Ministry of Economic Development.

The Common Fund for Commodities (hereinafter the CFC) is an international intergovernmental organisation established within the framework of the United Nations Conference on Trade and Development (UNCTAD). Its mission is to enhance socioeconomic development and the competitiveness of products of the most vulnerable commodity producers in value chains, and to support food security. Duties to the CFC budget are not mandatory.

The CFC has 101 members. Russia has participated in its operation since 1992 as successor to the USSR, which joined the CFC in 1987, and is one of the largest CFC shareholders.

In 2009, the reform of the CFC was initiated in order to modernise its organisational structure and revise its governing principles.

In this context, Russia has signed a directive approving amendments to the Agreement Establishing the Common Fund for Commodities of 27 June 1980 (hereinafter Agreement).

The new version of the Agreement updates functions related to resource mobilisation and financing actions regarding commodities, establishing partnerships to implement development projects in the commodities sector, providing services, and spreading knowledge and information on new and innovative approaches. It also provides for the foundation of a special fund to raise additional financing in order to implement projects in the CFC member countries.

Topics of discussion included current issues related to Russia-Cyprus trade, economic and investment cooperation, as well as cultural and humanitarian cooperation.

Excerpts from the transcript:

Dmitry Medvedev: Mr President, it is your third visit to our country while in office. We appreciate it, because Cyprus is a reliable and important partner of ours in Europe. We have established beneficial cooperation between governments; we have active ties between business communities, as well as an active cultural dialogue. This time we are signing a number of important agreements between our countries. And so your visit is a good opportunity to compare notes. I am sure that you will have productive talks with President Putin.

Nicos Anastasiades: This visit symbolises a great many things: the long historical ties that connect us, as well as the constant support of the Russian people for the settlement of the Cyprus problem, which, unfortunately, still exists.

We appreciate the principled position of the Russian Government.

Our relations reflect the cultural, historical, religious and other ties that exist between our nations.

These relations are also reflected in the agreements which will be signed tomorrow between our countries, as well as the existing ones (67 in total) which reflect the full range of cooperation between our states.

During the 31 October – 2 November 2017 visit, the Russian Prime Minister will hold talks with Premier of the State Council of China Li Keqiang on key areas of Russian-Chinese cooperation in the trade and economic, investment, energy, industrial, transport and humanitarian spheres. They will discuss the implementation of major joint infrastructural and high-technology projects, and will consider important current issues of interregional and cross-border cooperation.

They will also exchange views on coordinating the efforts of the EAEU with China’s Belt and Road initiative, with an emphasis on promoting specific cross-border initiatives.

A large package of intergovernmental, interagency and corporate documents in various areas of bilateral cooperation is being prepared for signing in the wake of the talks.

During the upcoming visit, Dmitry Medvedev will meet with Chinese President Xi Jinping and Chairman of the Standing Committee of the National People’s Congress Zhang Dejiang. Dmitry Medvedev and Li Keqiang will also attend the closing ceremony of the 2016-2017 China-Russia media cross-years project.

The list of international financial institutions whose securities are allowed to be issued and publicly traded in Russia now includes the International Development Association. This decision expands the opportunities for its participation in investment projects in Russia, which will contribute, among other things, to the development of the Russian financial market.

Reference

Prepared by the Russian Ministry of Finance.

The International Development Association (hereinafter IDA), a member of the World Bank Group, has been providing assistance to the world’s poorest developing countries since 1960, providing them with grants and loans for 25-40 years at low or zero interest for projects and programmes aimed at reducing poverty, boosting institutional capacity and creating conditions for economic growth. Since its inception, the IDA has invested more than $312 billion in 112 countries around the world. The IDA includes 173 member countries, of which 78 (including India) are eligible for assistance.

The main sources of funding for the IDA programmes are its own funds (returns from repayment of earlier loans and income from investment activities), contributions from the net income of the International Bank for Reconstruction and Development and the International Finance Corporation, and contributions from donor countries. IDA resources are replenished once every three years through multilateral consultations of donor countries with the IDA.

In 2016, for the first time the IDA received the highest credit ratings of Moody’s and S&P. This will enable the IDA to raise funds in capital markets to finance projects in a wide range of areas related to promoting development. At the same time, the IDA Charter requires written confirmation from a member state to borrow funds in its national currency.

In July 2017, the IDA requested permission to enter the capital markets of the Russian Federation to apply its new business model and expand the use of concessional lending. However, until recently the IDA was not allowed to issue  securities in Russia due to the restrictions imposed by Federal Law No. 39-FZ of April 22, 1996, On the Securities Market.

Considering the IDA’s important role in promoting international development, and the fact that a number of leading international financial institutions such as the European Bank for Reconstruction and Development, the Eurasian Development Bank, the Asian Infrastructure Investment Bank, and the New Development Bank have already been included in the list of organisations whose securities are allowed to be issued and publicly traded on the Russian stock market approved by the Russian Government, the newly signed Government directive included the IDA in the list.

This decision expands the opportunities for the IDA’s participation in investment projects in Russia, which will contribute, among other things, to the development of the Russian financial market.