'Last mile' projects
During the next 2 years, Vnesheconombank is expected to direct its efforts towards completion and commissioning of more than 20 'last mile' projects. These include projects that are 80-85% financed by the Bank and can be launched without significant investment.
Their completion will allow the start-up of nearly 20 facilities and ensure 0.2-0.3% GDP growth. The benefits are expected to exceed the costs by more than RUB 200 bn, creating over 20,000 new jobs. Nine projects focus on implementation of the government's import substitution policy and twelve projects aim to expand non-commodity exports.
The projects are implemented across 13 constituent regions of the Russian Federation: Moscow, Moscow region, Yaroslavl region, Vladimir region, Kaluga region, Bryansk region, Rostov region, Astrakhan region, Orenburg region, Krasnoyarsk, Krasnodar and Khabarovsk territory and the Republic of Tatarstan.
The Bank has already invested RUB 253 bn in such sectors as agricultural industry (about RUB 80 bn), metallurgy (RUB 78.6 bn), timber processing (more than RUB 28 bn), construction (about RUB 22 bn), machine building (RUB 6.1 bn), pharmaceuticals (RUB 3.7 bn), chemicals (RUB 3.4 bn) and microelectronics (RUB 2.5 bn).
The biggest projects include: the construction of large cattle breeding facilities in 5 constituent entities of the Russian Federation (creating over 7,000 new jobs, the benefits of which exceed costs by RUB 7.4 bn), construction of a pharmaceutical plant in Yaroslavl region for manufacturing import-substituting medications (creating 600 new jobs, the benefits of which exceed costs by RUB 9 bn).
Among the successfully completed projects the Bank can be particularly proud of is the construction of the Western High-Speed Diameter Motorway in Saint Petersburg which stretches in total 46.6km. The commissioning of its central section is scheduled for December. The project is of outstanding significance as it is expected to provide traffic relief for the central part of the city. The Bank invested RUB 25 bn in the project.