VEB Group intends to increase support for the Russian economy by 70%

VEB.RF Group plans to allocate RUB 3 trillion to support the Russian economy by 2022. According to the head of the state corporation Igor Shuvalov, within the framework of the new strategy, VEB.RF wants to increase support for the country’s economy by 70%.

Mr. Shuvalov presented the corporation’s strategy for the period from 2021 to 2024 at the St. Petersburg International Economic Forum (SPIEF). He said that over the past four years, VEB.RF, together with commercial banks, “issued support for 10 trillion rubles.” “We believe that in the next four years we will be able to work out our business ambition, the amount is 70% more, that is, almost double over the same period of time,” said Igor Shuvalov during the presentation of the new strategy (quoted by TASS).

According to him, now the state corporation is “in a first-class condition”, but a few years ago VEB.RF underwent “real reorganization.” “I will say this for the first time: since the winter of 2016, VEB has experienced a real, real reorganization. This reorganization was completed in 2018, in 2019 we came to a satisfactory condition, and now VEB as a financial institution is in a first-class condition, “said Mr. Shuvalov.

According to the results of the first quarter of 2021, the VEB.RF Group received 22.7 billion rubles. net profit according to international financial reporting standards (IFRS). For three months, VEB.RF provided guarantees for business lending in the framework of anti-crisis measures in the amount of 338 billion rubles.

Read about the participation of VEB.RF in the reform of the system of development institutions in the material of “Kommersant” “It was ordered to integrate.”