14 November 2013

Rosfinnadzor checked Rusnano

Statement of the press service of JSC "Rusnano" on the results of the audit of Rosfinnadzor

The Federal Financial and Budgetary Supervision Service (Rosfinnadzor) has completed an audit of the intended use of Rosnano's bond loans and loans secured by guarantees of the Russian Federation. As of 31.10.2013, JSC Rusnano has attracted 120 billion rubles under state guarantees, including 67 billion rubles in the form of bank loans and 53 billion rubles in the form of bond loans.

In accordance with the Charter, Rusnano carries out expertise of investment projects in the field of nanotechnology and implements them by providing loans to project companies, as well as participating in the capital of companies and funds, including foreign ones, solving the important task of integrating Russia into the global high-tech scientific and production chain.

At the moment, Rusnano has invested 117.6 billion rubles in 87 production projects, and has also invested 12 billion rubles in 10 venture funds. 47 new production facilities and R&D centers have already been built and launched on the territory of 18 constituent entities of the Federation.

Rosfinnadzor today uses the same approach to assessing the effectiveness of public investment in both traditional raw materials industries and innovative projects. At the same time, the latter are by nature much more risky, and their full development a priori requires longer terms. In addition, technology transfer from abroad is an important component of the construction of the Russian innovation economy, which is directly prescribed by Rusnano's regulatory framework. An adequate approach is needed to analyze the investment of public funds in projects with foreign applicants. Structuring investment transactions only in the Russian jurisdiction does not allow the implementation of technology projects at the global level.

At the same time, of course, we have our own mistakes and, unfortunately, the unscrupulous behavior of a number of our applicants. This, in particular, refers to the former management of CJSC "Innovative Company SAN", which is mentioned in the materials of the Rosfinnadzor audit. Protecting its investments in this project in the amount of about 500 million rubles, Rusnano secured the seizure of 55% of the shares of CJSC Innovative Company SUN, owned by the former management and the applicant of the project, which actually brought the company to bankruptcy.

To eliminate these and other comments made by Rosfinnadzor, Rusnano Buden has developed and implemented an action plan. At the same time, Rusnano supports the final conclusion of Rosfinnadzor that the facts revealed during the audit cannot be regarded "as misuse of funds of loans and bond loans secured by state guarantee support."

Portal "Eternal youth" http://vechnayamolodost.ru14.11.2013

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