VEB.RF Involved in Seven Nizhni Novgorod Region Projects Totalling RUB335.5bn

VEB.RF and the Agency for Strategic Initiatives (ASI), together with Russian Export Center (REC, part of the VEB.RF Group), have made a business visit to Nizhni Novgorod. The local government presented strategic projects aimed at promoting regional development, contributing to the country’s economic growth, and creating an environment conducive to a better quality of life in the region.

VEB.RF is involved in seven Nizhni Novgorod Region projects totalling 335.5 billion roubles, with VEB.RF’s commitment of 89.4 billion roubles. VEB.RF’s key priorities are industrial production and urban economies.

During the business visit, VEB.RF Chairman Igor Shuvalov was given a tour of Gorky Automobile Plant. “At the Nizhni Novgorod car factory today, new large-scale projects were discussed with the company’s management, including the creation of high-tech component production in the region, as well as building assembly facilities abroad to expand the presence of Russian equipment in export markets. The company’s vast experience, design knowledge, and technological competencies allow them to implement projects with maximum efficiency, and VEB.RF is ready to join them,” said Igor Shuvalov. Igor Shuvalov and Nizhni Novgorod Region Governor Gleb Nikitin had a ride on a LiAZ electric bus fr om Nizhni Novgorod’s Chkalov Airport to the car factory. Under a programme to modernise urban electric transport for bus routes on the left bank of the Oka River in Nizhni Novgorod, 58 LiAZ electric buses were purchased, and they are already in operation.

Igor Shuvalov also took a ride on a new MiNiN tram in the renewed section of the tram network. Nizhni Novgorod is on the list of cities approved by the Russian Government for the modernisation of urban electric public transport. Russian Deputy Prime Minister Dmitry Grigorenko was appointed to oversee the programme on behalf of the government. As instructed by the government, VEB.RF acts as the programme’s financier, project office and coordinator.

Nizhni Novgorod Region Governor Gleb Nikitin emphasised the importance of the project to modernise the infrastructure of urban electric transport in the region’s administrative centre: previously, the city had not renewed its transport networks for decades, and worn-out vehicles had not been replaced systematically.

“To date, the project has already resulted in building almost 70 kilometres of new tramways, supplying 77 MiNiN trams, rehabilitating three traction substations. In allocating new tramcars, preference is given to tramlines with renewed rail tracks. We receive feedback about how to improve travel comfort and speed. For example, it is recorded that after the rehabilitation of this section, passenger traffic rose by 32 per cent, and the average tram speed increased by 64 per cent,” said Gleb Nikitin. The plans for 2025 include supplying 100 tramcars, rehabilitating 40.4 kilometres of tramway tracks, and rehabilitating seven traction substations and two tram depots.

“The Nizhni Novgorod Region is a leader in the investment ranking and the City Life Index, which proves the competent and systematic approach used by the region’s government. We are active in working together on all nationwide ASI initiatives. And now, given the impressive growth of urban spaces in the region, we are pleased to launch our Service and Infrastructure Solutions Book here. This resource is designed to assist in formulating programmes to encourage the comprehensive development of significant populated areas by offering ready-made solutions in key areas such as transport, housing, public utility facilities, and community infrastructure. I am confident that this tool will represent a major step forward in strengthening the position of the Nizhni Novgorod Region as a flagship of sustainable development and improving the region’s quality of life,” said Svetlana Chupsheva, General Director, Agency for Strategic Initiatives.

Veronika Nikishina, CEO, Russian Export Center, spoke about the demand for support measures among Nizhni Novgorod–based businesses.

“Nizhni Novgorod offers excellent potential for exports, and Russian Export Center has unique experience, competencies and effective tools for export support. Over the past five years, we have already supported foreign trade operations of local businesses in the amount of about 370 billion roubles and we are ready to redouble our joint efforts to increase these figures,” said Veronika Nikishina.

The business visit also included a meeting hosted by the Corporate University of the Nizhni Novgorod Region Government between Igor Shuvalov and students at Nizhni Novgorod’s leading universities, mainly majoring in engineering. The students have notable academic and extracurricular achievements. The meeting included holding the awards ceremony of the business game “Your City” and enabling the students to put forward comprehensive solutions for the problems currently faced by the city.

Igor Shuvalov also visited the building site of Neimark, an interuniversity campus.

According to VEB.RF’s City Life Index, Nizhni Novgorod is higher than Russia’s average in eight out of 11 areas of quality of life. For instance, the integral estimate in the Education section rose to a score of nearly 70 in 2024, which is better than the indicators of the cluster and most of the other cities. Day care centres, study groups and special-purpose classes serve more than 83 per cent children in Nizhni Novgorod (76.3 per cent on average according to the City Life Index). In Nizhni Novgorod, about 80 per cent of school students are on the morning shift, and one in every three city dwellers has a university degree or receives occupational training. Almost 90 per cent of the city’s green spaces are public parks and communal gardens. In addition, more than 66 per cent of local residents believe that their city is beautiful and well cared for.

VEB.RF, together with ASI, has continued a series of business visits across the country. In Kaliningrad, federal development institutions successfully tested a new form of work on issues relating to regional development. The VEB.RF Group’s development institutions, ASI, the Roscongress Foundation, local government authorities, experts, and opinion leaders are involved with business visits. Such business visits include meetings and discussions about how and wh ere to encourage regional growth and use support measures from the government, as well as carrying out specific projects aimed at achieving development in a region and in the country as a whole. VEB.RF and ASI had previously made business visits to the Kaliningrad and Lipetsk Regions, the Republic of Tatarstan, the Primorie Territory, Tula, Veliky Novgorod, Irkutsk, Khabarovsk, and Yuzhno-Sakhalinsk.