VEB.RF and the Kursk Region agreed to facilitate cooperation, with a respective agreement signed by VEB.RF Chairman Igor Shuvalov and Acting Kursk Region Governor Alexander Khinshtein during the St. Petersburg International Economic Forum 2025.
The document provides for combining forces of VEB.RF and the regional authorities to solve priority tasks of the region’s socio-economic development, elaborate government support measures for projects designed to develop infrastructure, industrial production and social sphere, strengthen the region’s technological potential and improve quality of life.
Igor Shuvalov, Chairman of VEB.RF: “The Kursk Region is facing difficult circumstances today, and we are ready to use our best efforts to help its residents. We have already drawn up a list of priority areas for VEB.RF’s involvement: infrastructural projects including socially important ones to be implemented, among other things, using the public-private partnership mechanisms, and elaboration of tailored support measures for the Kursk Region. Our team is active in cooperating with Alexander Khinshtein and his team. VEB.RF is currently involved in developing a master plan for Kursk and its historic centre. In addition, the VEB.RF Group intends to participate in projects specified in the master plan.”
Alexander Khinshtein, Acting Governor of the Kursk Region: “Having signed this strategic agreement, VEB.RF has become our major federal partner to ensure comprehensive development of the Kursk Region in challenging environment. VEB.RF is not only a financial institution, but also a key instrument of government policies capable to quickly mobilise the resources for break-through projects. I would like to thank Igor Shuvalov and VEB.RF’s team for solidarity and readiness to involve in challenging regional tasks. This partnership means not only the formal signing of the document, but also a reliable working alliance to address specific goals, from school construction to strengthening the country’s industrial potential.”
VEB.RF will also help Kursk enterprises to receive grants under the Skolkovo Foundation programmes.
The region was also offered to participate in the “Walk the City. Kursk, Zheleznogorsk” project. The project provides for developing walking routes that take in places of interest and key attraction centres for tourists, guests and city dwellers.
With the involvement of VEB.RF, the region is implementing five projects totalling 148.5 billion roubles backed by VEB.RF’s lending and guarantee support. The projects include the delivery of equipment for the construction of Kursk Nuclear Power Plant 2 and three railbuses. The city is also building a new school for 1,600 pupils and modernising urban electric transport. As of today, VEB.RF has fully financed the tram delivery.
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