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More than 4,000 Children to Go to New Schools Built with Support from VEB.RF

2 september 2024 года
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This September, six new schools built under concession agreements between ProShkola (a subsidiary of VEB.RF) and regional authorities or municipalities will welcome their first students. The new educational institutions will open in the Republic of Buryatia* and the Vologda, Kaluga, Samara and Tula Regions. The project will create a total of 4,079 new school places.

Represented by its subsidiary ProShkola, VEB.RF is involved in a public-private partnership (concession) programme to build new schools under the Education national project.

“The programme to build schools under public-private partnership agreements was jointly launched by the Russian Government and VEB.RF three years ago. And we have already seen tangible results: more than 130 schools are built under concession agreements throughout the country. VEB.RF is involved in the programme through ProShkola. They are the largest education concession holder with a portfolio of 69 schools, including 22 that have welcomed children today. We are creating modern public schools with a new level of educational infrastructure, ensuring a high-quality basic educational process as well as making it possible to broaden access to extended education right on school premises,” said VEB.RF Chairman Igor Shuvalov.

Built as turnkey projects with fitted furniture, equipment and teaching aids, the six new schools cost approximately 8 billion roubles, including 6.4 billion raised by ProShkola from private investors through the lenders, VEB.RF and Sberbank.

Modern, well-equipped schools are built in record time, and such a combination of speed and quality in creating social infrastructure facilities is made possible by the use of the concession mechanism. The construction and equipment of schools are financed with capital grants (mainly from the federal budget) and loans provided by VEB.RF and Sberbank. This eases the instantaneous burden on the regional budget. Engaging the private sector to take part in the construction of new schools makes it possible to create more facilities at a given time.

One of ProShkola’s basic principles is to work with local construction market leaders rather than nationwide market players so that during the fulfilment of a concession agreement, all investments and subsidies will remain in the region. This creates new jobs and orders for local industrial and building companies.
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