Home News 120 billion rubles will be allocated for the “Project Finance Factory”

120 billion rubles will be allocated for the “Project Finance Factory”

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120 billion rubles from the National Wealth Fund (NWF) will be allocated for projects implemented within the framework of VEB’s “Project Financing Factory” mechanism, Russian President Vladimir Putin said.

At the plenary session of the St. Petersburg International Economic Forum, Russian President Vladimir Putin said that the projects implemented under the VEB Project Financing Factory mechanism would be allocated 120 billion rubles from the National Wealth Fund (NWF).

“This measure will help ensure additional lending for demanded initiatives and projects in the amount of about half a trillion rubles,” Putin said.

In March, VEB reported that the total cost of Fabrika’s projects exceeded 1 trillion rubles. When implementing the projects of the Factory, the funds of the project initiators make up at least 20% of the total volume, the rest of the investments are provided by VEB and commercial banks – partners in syndicates.

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