MOSCOW, June 26Russian President Vladimir Putin appointed Igor Shuvalov as chairman of VEB for another five years, the corresponding decree is posted on the portal for the official publication of legal acts.
«Appoint Igor Ivanovich Shuvalov as chairman of the state development corporation «VEB.RF» for a period of five years,» it says in the document.
< /span>
Shuvalov’s powers were extended ahead of schedule; the previous term of appointment was until 2026. Shuvalov has headed VEB since 2018. Since 2018, the volume of annual loans and guarantees issued by VEB for the implementation of investment projects has increased from 100 to 300 billion rubles and more. Today, the volume of assets and guarantee portfolio of the state corporation amounts to 7 trillion rubles, which corresponds to 2.5% of Russia's GDP.
Launched in 2018, the Project Finance Factory is one of the most popular instruments for lending to large projects for a long period. Previously, Putin ordered to increase the volume of the program to 600 billion rubles.
In 2020, by order of the government, 12 development institutions were transferred to the VEB coordination perimeter, forming a single VEB.RF Group. As part of the group’s strategy being developed until 2030, it is planned to attract at least 30 trillion rubles into the economy and increase the volume of assets to 5% of the country’s GDP. The main focus of the group is the development of infrastructure, industry, strengthening technological potential and improving the quality of life of people.
According to the memorandum of financial policy, VEB participates in the implementation of national projects aimed at implementing the May presidential decree.