Audit Chamber Head Plans Club To Support Foreign Investors

Audit Chamber head Sergei Stepashin told an investment conference in London on Thursday that he wants to create an informal club to support foreign investors that would allow them to meet with federal and regional authorities, businessmen and bankers. Stepashin said the chamber, the Duma's budgetary watchdog, is ready to provide informational support to potential investors and give recommendations on choosing investment strategies. "In some cases, the Audit Chamber could take charge of the implementation of specific investment projects and manage their progress," he said. Its status as a non-commercial organization means it could work with projects implemented under government guarantees, with federal budget funds or loans from international financial institutions, the St. Petersburg Times wrote.