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VEB.RF Initiatives Receive Recognition from Asia-Pacific Development Finance Institutions

29 april 2025 года
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Two VEB.RF projects received international recognition at the ADFIAP Awards 2025. Held as part of the Annual Meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), the awards ceremony took place in Muscat, the capital of Oman. Awards are presented annually to honour ADFIAP member institutions for their outstanding development finance projects.

The Pilot Programme of Social Impact Projects received the ADFIAP Merit Award in the Human Capital Development category. Under the programme, VEB.RF acted as the operator of 13 social impact projects in nine regions, many of which have already been extended to other areas.

Another VEB.RF project, the Hospitable Cities educational programme, was presented with the ADFIAP Merit Award in the Local Economic Development category. The programme brought together more than 1,000 municipal and regional managers from over 200 Russian cities, who became leaders in significant transformations not only in the hospitality industry, but also in other key areas. This is already VEB.RF’s third large-scale programme designed to provide training for city management teams, diversify local economies and improve quality of life.

The awards ceremony was attended by more than 300 delegates from 35 countries.

Speaking of the outcome of the ADFIAP Awards 2025 with over 130 entries submitted, VEB.RF Senior Banker Sergei Storchak, the head of the VEB.RF delegation, noted that VEB.RF once again showed foreign partners its best practices, which had been recognised at the ADFIAP Awards many times.

The VEB.RF projects are perfectly in tune with the theme of the ADFIAP conference in Muscat, namely “Economic Gardening and Development Impact”. This implies the importance of nurturing local potential, cultivating entrepreneurial ecosystems and fostering economic resilience. Sergei Storchak told the conference about VEB.RF’s goals of entrepreneurial development in accordance with VEB.RF’s new Development Strategy 2030. Measures to provide small and medium-sized enterprises with access to funding, create a market for their products and improve government relations are typical of public development banks, including in the Asia-Pacific region. VEB.RF’s specific plans in this area attracted a great deal of interest among conference participants.

VEB.RF joined ADFIAP more than 15 years ago.
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