The RUSSIA EXPO presented the transformation of Russian cities supported by VEB.RF: new schools, roads and infrastructure

Over the past four years, VEB.RF has invested in 450 major projects, 45 thousand jobs have been created. 7 trillion rubles have been invested in the Russian economy and improvement of the quality of living. This was announced by Dmitry Grigorenko, Deputy Prime Minister of Russia and Head of the Supervisory Board of VEB.RF, in the pavilion of the RUSSIA EXPO — "Cities for Life Come True".

According to the Deputy Prime Minister, VEB.RF has become an effective tool of the Russian Government to manage projects that are complex, expensive, but extremely important for the development of the country and improving the quality of living.

"Over the past few years, 80% of polyethylene in Russia has been produced at plants that were in one way or another realized with the financial support of VEB.RF. 70% of LNG projects have been implemented over the past few years with the participation of VEB.RF as well. Every fifth airport was built or modernized with the participation of VEB.RF. 9 million people in 10 cities of the country have access to modern comfort urban electric transport", said the Deputy Prime Minister of Russia.

Photo: VEB.RF

VEB's investments were allocated for the construction of schools, university campuses, development of transport infrastructure and electric transport, road construction, renovation of airports, modernization of cogeneration plants and water supply systems. The changes in the country's life supported by VEB have already affected more than 27 million families in Russia.

"Together with all the development organizations and commercial banks, we were supposed to end [2024] year having supported the economy by 17 trillion rubles. By the end of 2024, the volume of projects supported by us together with our partners will amount to about 22 trillion," VEB.RF Chairman Igor Shuvalov said.

The new strategy of VEB.RF will be based on the key directions of the new Presidential Decree on the updated national development goals. Thus, the new investment cycle will continue the projects that are being implemented in the cities.