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MIL OSI Translation. Region: Russian Federation –

Under the chairmanship of Deputy Prime Minister – Chief of Staff of the Government Dmitry Grigorenko, a meeting of the Supervisory Board of the VEB.RF Group was held, at which the new strategy of the state corporation until the end of 2024 was considered and approved.

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Dmitry Grigorenko chaired a meeting of the Supervisory Board of the VEB.RF Group

The event was attended by members of the Supervisory Board of VEB.RF: First Deputy Prime Minister Andrei Belousov, Deputy Prime Ministers Marat Khusnullin and Dmitry Chernyshenko, Presidential Aide Maxim Oreshkin, Finance Minister Anton Siluanov, Minister of Construction, Housing and Utilities Irek Fayzullin, members coordination committees under the Supervisory Board, heads of development institutions coordinated by VEB.RF.

“The President of Russia in December last year gave instructions to optimize development institutions. Today we are summing up the interim results of this work, ”Dmitry Grigorenko noted during his speech.

According to him, all reorganization and regulatory procedures have been completed. 12 development institutions were transferred under the supervision of VEB.RF.

“All development institutions have a common task – they cease to compete with each other and, as a whole, together with the Government, begin to work to achieve the national goals formulated by the President. We have approved KPIs, or indicators of the efficiency of development institutions, for the current year, and also discussed them in the context of the next three years, ”Dmitry Grigorenko stressed.

As part of the transformation of the management system of development institutions under the Supervisory Board of VEB.RF, coordination committees were created for the sectors: urban economy and construction, small and medium-sized businesses, export, industrial policy, innovation and information technology. They were headed by specialized deputy prime ministers. The committees will participate in determining the key performance indicators of development institutions and consider their largest projects and programs (with a term of implementation of more than one year), for the implementation of which co-financing from VEB.RF is advisable.

The focus of the new strategy of the state corporation is the person. The potential of development institutions allows us to offer people the most modern solutions that improve the quality of life and comfort. Key projects in this area include the construction of new schools and the modernization of public transport systems in Russian cities.

Particular attention in the strategy is paid to the achievement of social and environmental effects from the implementation of investment projects, ESG-transformation of the group, opportunities for the development of Russian technologies. New approaches to the implementation of the strategy were considered on examples of ongoing and promising projects – the construction of large industrial enterprises, a modern fleet for navigation along the Northern Sea Route, highways, airports, the development of Russian resorts and tourist destinations. The implementation of the largest industrial and infrastructure projects can create demand for domestic technologies, including those created with the support of innovative development institutions.

The updated version of the law on VEB.RF and the memorandum on financial policy fixes the role of the state corporation in promoting the principles of socially responsible entrepreneurship to improve the well-being of people. To achieve complex ESG-effects (qualitative changes in the life of society) in the regions where projects are being implemented, VEB.RF organizes financing in partnership with commercial banks, investors, development institutions, industrial and technological partners.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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