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VEB.RF Supports RUB312.2bn Worth of Projects in H1 2021

19 july 2021 года
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  • The loans and guarantees given by VEB.RF in H1 2021 exceeded RUB172bn and RUB140bn respectively;
  • VEB.RF’s primary investment focus was on industry, infrastructure, exports and SMEs.

In the first half of 2021, VEB.RF lent above RUB172bn, which is 1.8 times more than in 2020 (RUB95.4bn). VEB.RF’s guarantees issued within that period exceeded RUB140bn, more than two times more year-on-year (RUB66.4bn).

Key areas of VEB.RF’s investment in the first half of 2021 included industry, infrastructure, exports and SMEs.

Nikolay Tsekhomsky, VEB.RF First Deputy Chairman and Member of the Board:

“VEB.RF is active in investing in major national projects in partnership with commercial banks. Specifically, in the first half of 2021, we invested in the construction of Arctic LNG-2 plant and in partnership with our partner banks provided financing for Russia’s first green steel mill in Vyksa.

The total amount of financing provided by VEB.RF for industrial and infrastructure projects including urban economy was 178.2 billion roubles and 12.1 billion roubles respectively. More than17.7 billion roubles were allocated to finance Russian high-technology exports. In particular, we provided first rouble-denominated loans to our counterparties in the Republic of Uzbekistan. We launched financing for a whole range of transactions for the supply of Russian-made power and mining equipment, municipal vehicles and special equipment.

In addition, VEB.RF will financially support a comprehensive modernisation of the Taganrog tram system. The respective agreement was entered into between VEB.RF and Sinara - Urban Transport Solutions at the St. Petersburg International Economic Forum. The total project value is 11.8 billion roubles. We have recently signed a loan agreement to finance a strategically important infrastructure project for the construction of a new passenger terminal at the Tolmachevo airport in Novosibirsk. In partnership with Sberbank, we intend to invest 13.9 billion roubles in this project, with the first tranche to be provided as early as July”.

Under the new low-interest lending programme to provide businesses with 3% loans aimed at helping companies to retain their employees and recover businesses, VEB.RF issued surety bonds totalling RUB104.6bn to commercial banks.

According to the new strategy, VEB.RF’s key objective is to invest about RUB850bn in Russia’s economy in 2021 and assume obligations to finance new projects totalling RUB750bn.

The new strategy specifies six key areas of VEB.RF Group including major industrial projects, infrastructure, exports, small and medium-sized businesses, information technology and innovations, and urban economy.


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