A presentation of the non-profit organization “the Monocities Development Fund” was made at Vnesheconombank. This special organization, which is to be responsible for supporting monocities being in the most difficult situation was founded by VEB in 2014.
The Fund’s main objective is to form appropriate conditions for creating new jobs and raising investments for monocities being in the most difficult socio-economic situation. The Fund’s main lines of activity are the following:
- funding the construction of monocities’ engineering infrastructure facilities;
- preparing project documentation and arranging for funding investment projects aimed at diversifying economy in monocities;
- training specialists responsible for managing monocities modernization projects;
These measures’ implementation will make it possible to remove social tensions in monocities and will enhance their socio-economic development.
29.6 billion rubles are provided for in the federal budget to finance the Fund’s activity. Supportis scheduled to be provided to fifty monocities until 2017.The Working Group for Modernizing Monocities functioning within VEB is to be responsible for selecting monocities to be further supported.
Director General of the Monocities Development Fund Dmitry Skrivanovsaid: “One of the Fund’s efficiency targets is to create forty thousand jobs not related to city-forming enterprises’ activities in fifty selected cities”.
The Head of the Working Group for Modernizing Monocities under the Governmental Commission for Economic Development and Integration said that the first tranche would be given to five cities with the most unfavorable socio-economic situation (Kanash, Krasnoturinsk, Yurga, Nadvoitsy, Chegdomyn).
The Fund’s activity will make it possible to move to carrying out further state- support measures on the basis of project approach combining state support with forming top-quality local and engaging external initiatives.
Press Office of VEB
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru
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