VEB.RF and VTB Infrastructure Holding Agree on IRIIS Certification for Projects

1 december 2021 года
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The company’s projects will be provided with independent quality assessment in accordance with international governance standards and best practices.

VTB Infrastructure Holding is a member company of VTB Group and the largest investor in Russian infrastructure.

It is intended that its project initiatives and infrastructure projects will be assessed for compliance with the IRIIS requirements.

Developed by VEB.RF in collaboration with the National PPP Development Center and AECOM, IRIIS uses an infrastructure project assessment methodology to evaluate economic efficiency, environmental safety and social outcomes.

The memorandum of cooperation was signed during VTB Capital’s “RUSSIA CALLING!” Investment Forum. The document was signed by VEB.RF’s Deputy Chairperson and Member of the Management Board Svetlana Yachevskaya and VTB Infrastructure Holding’s CEO Oleg Pankratov.

The Ufa East Exit project of Bashkir Concession Company (part of VTB Infrastructure Holding) is the first in Russia to be awarded IRIIS certification. A syndicate of VEB.RF and VTB is financing the project through the Project Financing Factory. Due diligence showed that high quality standards had been applied to the preparation and planning of the project from the very beginning.

Svetlana Yachevskaya, Deputy Chairperson and Member of the Management Board, VEB.RF:

“It’s particularly important to build up a portfolio of projects for quality infrastructure investment, taking account of Russia’s goals of creating new, modern infrastructure. We hope IRIIS will enable Russian infrastructural projects to be compliant with the highest quality standards and attractive across a wide range of investors. This will increase private infrastructure investment and help the government to support the most promising project initiatives, which today incorporate sustainability and ESG factors to an increasingly large extent.”

Oleg Pankratov, CEO, VTB Infrastructure Holding:

“VTB Infrastructure Holding has always been committed to ESG principles. When we embark on a project, as early as conceptual design, we investigate how it will reduce environmental impacts, what tax revenues it will generate, what jobs it will create, and how it will improve quality of life, contribute to regional planning and raise environmental standards. The agreement with VEB.RF is a significant strategic step for us and reaffirms our commitment to achieving the sustainable development goals and moving from theory to practice.”


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