VEB.RF’s Supervisory Board Considers Approaches for Group’s Strategy and Several High-Priority Projects
Dmitry Grigorenko, Deputy Prime Minister and Chief of Staff of the Government Executive Office of the Russian Federation, presided at a meeting of VEB.RF’s Supervisory Board.
As specified in the road map for reforming the development institutions, VEB.RF is to submit the Group’s updated strategy by 1 July. In this connection, the Supervisory Board considered and approved the main areas of VEB.RF’s activities to be included in the new strategy.
The Supervisory Board decided that VEB.RF’s priorities would include maximising the Group’s contribution to attaining national development goals. Therefore, VEB.RF should act as an integrator of priority projects and set up a customer-centric business support system offering standardised products and services and making it possible to ensure the scalability of integrated development programmes and remove the risks of economic cycles or complex project stages.
Dmitry Grigorenko, Deputy Prime Minister and Chief of Staff of the Government Executive Office of the Russian Federation, Chairman of VEB.RF’s Supervisory Board, said during the meeting:
“The Supervisory Board discussed the main areas of the VEB.RF Group’s new strategy. The development institutions’ priority is now the consolidation of public and private investment resources to achieve a breakthrough in the country’s development and to ensure adequate living conditions and improve quality of life for people. The Government’s frontline strategy includes considerable investments in the country’s economy, and VEB.RF is becoming a tool for obtaining these investments. The VEB.RF Group is a key partner of the Government and business, providing comprehensive support for the priority areas of economic development.
“In addition to its current activities, VEB.RF was given four new strategic areas. These are investments in major projects within the Government’s frontline strategies. Support for projects to improve competitiveness, export-oriented projects and projects aimed at creating super-industries for a technological breakthrough. Third, projects of regional significance, including public-private partnership projects. VEB.RF is becoming a driver of tomorrow’s infrastructural projects aimed at developing urban agglomerations.”
Igor Shuvalov, Chairman, VEB.RF, said:
“The Supervisory Board discussed what VEB.RF should be like after the development institutions have been reformed. VEB.RF is ready to take on more ambitious tasks and participate actively in the implementation of the Government’s frontline strategies.
“VEB.RF’s new business model will allow us, if we have adequate capital and liquidity, to implement investment projects for 10 trillion roubles by the end of 2025.”
Additionally, the Supervisory Board considered several issues related to obtaining additional liquidity to finance VEB.RF investment projects as well as corporate issues.
The Supervisory Board also discussed the possibility of carrying out a pilot project to modernise the Taganrog tram system. The concession project involves the replacement of 45 kilometres of tracks and 60 electric trams. The project will make it possible to provide high-quality and full public transport services and attract new tourists to Taganrog. In addition, the project can become Russia’s first concession covering the entire tram system of a city.
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