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Glossary

Concession bonds

bonds issued by the concession agreement party for the purpose of financing this agreement. In Russia the definition "concessionaire issued bonds’ is regulated in FFMS Law N 13-62/pz-n from July, 30th 2013. Funds are usually directed to road infrastructure and housing and communal services development. In Russian Federation concession bonds issued for regional financing purposes are usually not guaranteed, but concession bonds issued for government financing purposes generally have government guarantee.

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