Penza, 6 December 2013. PenzaNews. The head and the authorized representative of the World Bank in Russia Mikhail Rutkovsky and the chairman of the government of the Penza region Yuri Krivov signed a Memorandum of Understanding.

The ceremony took place within the framework of the official meeting of the World Bank management and the representatives of the subordinate entities of the Russian Federation in Moscow, November 6.

The document concerns cooperation in economic, social, scientific and education spheres.

In particular, the Memorandum of Understanding stipulates the parties’ interaction aimed at increasing innovation and investment activity of the Penza region, as well as the modernization of transport and communal infrastructure.

In addition, the cooperation involves the development of a strategy for improving living standards of the population including through the development of affordable housing, environmental infrastructure and energy systems.

Among the priority directions of the bilateral cooperation there is the development of the information society, including the modernization of telecommunication networks, the press service of the regional government reports.