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Past Four Years of Urban Development See over RUB450bn in Investments from VEB.RF

29 january 2025 года
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VEB.RF extended its activities in the Urban Economy area in 2020–2024 to projects carried out in as many as 95 Russian cities, and the value of city development projects involving VEB.RF exceeded 2 trillion roubles during this period. VEB.RF invested 459.2 billion roubles in the implementation of city development projects, including loans, guarantees and surety bonds.

VEB.RF pays special attention to projects aimed at creating regional airport infrastructure. For instance, VEB.RF provided support for building and bringing into operation 13 airports serving a total of 111 million passengers per year. Total investments in the projects exceeded 375 billion roubles, with VEB.RF’s commitment of 150 billion roubles. These projects include the airport terminals put into operation in 2024 in three cities, namely Voronezh, Ulan-Ude and Magadan. Another eight projects are under way. VEB.RF has six projects in the pipeline in relation to the construction and rehabilitation of airport terminals with a total value of approximately 155 billion roubles. Their implementation will require 124 billion roubles in loans.

Nikolay Tsekhomsky, First Deputy Chairman, VEB.RF: “The focus of VEB.RF is on improving quality of life by achieving the country’s national development goals. We have been working on city development for more than four years. In 2024, financing was provided for ten new projects totalling 75.6 billion roubles. These are projects aimed at developing urban transport, airport infrastructure, public utility facilities, urban environments, tourism and recreation. Another 14 projects worth 128.3 billion roubles are almost ready for implementation.

“The social impact of current changes in cities is measured using VEB.RF’s City Life Index, a publicly available platform that provides analytics about quality of life in the 250 largest cities in Russia.”

VEB.RF has provided financial support for projects such as the completed construction and rehabilitation of airport infrastructure facilities and roads (the Ufa East Exit, the Krasnodar Territory road network, the Tolyatti bypass with a bridge over the Volga River); the ongoing creation of tourist attractions; the current modernisation of public utility facilities (water supply and wastewater disposal, heat supply, public street lighting); work on constructing and upgrading power stations, supplying new trams, building and replacing tramways; renewing the Saint Petersburg Metro rolling stock; creating new educational facilities, with 26 schools built and brought into use for approximately 17,000 children.
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