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In recognition of its project finance expertise, three Milbank partners were invited to Moscow last May to provide a seminar on the applicability of Western project finance techniques to the Russian market. The seminar was attended by more than 25 bank officers from the project finance, economic feasibility and foreign investment divisions. As a result of the seminar, Milbank has developed a closer working relationship with key officials and has initiated a dialogue with the Russian banks identifying new structures for project finance in Russia.