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Arkhangelsk’s Arctic Star Campus Construction to Receive Financing from VEB.RF

11 april 2025 года
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VEB.RF and Arctic Star LLC have signed a loan agreement in Moscow under the concession agreement to set up a world-class interuniversity campus in Arkhangelsk. VEB.RF is to provide a loan of 8 billion roubles.

The largest in the Arkhangelsk Region, the investment project to set up the Arctic Star campus is able to give fresh impetus to local development. The technopolis will help to attract and retain young talent in the region, improve the quality of higher education, and form a scientific community focused on priorities not only for the region, but also for the whole of the Russian Arctic.

The research programme of the campus is fully consistent with the national goals and tasks set by the Decree of the Russian President “On the Fundamentals of State Policy of the Russian Federation in the Arctic for the Period Until 2035”. Arctic Star is designed to bring together intellectual resources and become a training centre for work in Arctic conditions, applied and fundamental research, and solutions necessary for development throughout the Arctic.

“The project to set up the Arctic Star campus is carried out under the Campus Construction Programme as instructed by the Russian President. High on our list of priorities, this area of investment is rather new to VEB.RF. The project will create a fundamentally new, world-class educational environment for students and teachers, which will certainly contribute to making Russian education more attractive. We are also exploring the possibility of using support measures through the Ministry for the Development of the Russian Far East and Arctic. Currently, VEB.RF is active in working on three projects to create interuniversity campuses, including the Arkhangelsk and Chelyabinsk campuses. The total project value is greater than 100 billion roubles, with VEB.RF’s potential commitment of 40 billion roubles,” said Nikolay Borisenko, Executive Director and Head of Investment Financing, Business Services, VEB.RF.

Financing for work on setting up Arctic Star is not limited to the agreement with VEB.RF. The Arkhangelsk Region Government has already allocated about 1 billion roubles, primarily for design and estimate documents and utility connections, which is critical to subsequent stages of construction.

Almost 16 billion roubles in federal funding will make up a considerable proportion of investments. This will be used chiefly for construction, as well as providing the future campus with modern equipment and infrastructure.

After the federal agency in charge of state expert reviews examines the Arctic Star design and estimate documents and gives its approval to the project, work will start on building the campus. Arctic Star is scheduled to be put into operation in 2027.
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