The volume of support for investment projects by the VEB.RF group together with banks at the end of 2024 will amount to 22 trillion rubles.
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Over the past four years, as Dmitry Grigorenko, head of the government apparatus and Deputy Prime Minister, announced today, March 28, on the air of Russia 24, VEB.RF’s portfolio includes 450 projects worth about 12 trillion rubles, of which VEB’s participation is about 7 trillion rub. By the end of the year, according to the head of the state corporation, Igor Shuvalov, the total amount of support by the VEB group for projects (together with banks) is planned to increase to 22 trillion rubles, which is higher than the figure of 17 trillion rubles included in the strategy.
VEB provides support to investment projects through a number of instruments, in particular, issuing guarantees for businesses to obtain loans from commercial banks, financing projects through syndicated loans within the framework of the Project Finance Factory, which provides for fixing interest rates for the duration of the project, as well as through support measures for line of development institutions included in the group.
In general, Dmitry Grigorenko noted, the volume of VEB’s assets today is about 2.5% of GDP. “We don’t think this is a lot,” explained the Deputy Prime Minister. According to him, the “domestic” target is 5% of GDP. “I hope that our mechanisms will be improved during 2024. And maybe, through joint efforts, we will really be able to ensure that our portfolio will strive to reach 5% of GDP,” added Igor Shuvalov.
About how corporate bonds will be added to VEB’s conservative portfolio – in the Kommersant material “The public debt will be diluted with risk”.
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