Igor Shuvalov: ‘The Polytechnic Museum Will Become a World-class Interpretive Centre’
VEB.RF’s Chairman Igor Shuvalov chaired a meeting of the Board of Trustees of the Polytechnic Museum. The meeting discussed a range of issues including the renovation of the museum’s building, the museum’s development concept and the 2019 agenda.
Museum Park will be open to the locals and tourists in Moscow as early as 2019. The area adjacent to the Polytechnic Museum is to be transformed into an innovative public space that will serve as a walking route connecting Central Children’s Store on Lubyanka with Zaryadye Park. The museum’s building will be fully restored to its original appearance.
“We are working on this project in partnership with the Moscow Government. The Moscow Government has met its commitment in full. While passing by the Polytechnic Museum across Lubyanka Square and Novaya Square, you will see how the area around the museum has changed,” Igor Shuvalov said. “The renovation works are scheduled to be completed by the autumn of 2020. The next key project milestone is the creation of a world-class interpretive centre.”
The building is being renovated by one of DOM.RF’s building divisions. The Moscow Department of Cultural Heritage continuously monitors the renovation project. Restoration work is under the scientific supervision of a specialist organisation licensed by the Russian Ministry of Culture.
“The renovation works are now in the final phase. We will unveil the façades and exterior of the building by Moscow City Day. Our next step is to fit out the exhibition and education spaces by November. So, the museum will welcome its first visitors in late 2020, but not in 2021 as previously scheduled,” the Polytechnic Museum’s Director General Yulia Shakhnovskaya said.
The Board of Trustees resolved to re-elect Igor Shuvalov as Chairman of the Board of Trustees and admit Sberbank’s CEO and Chairman of the Executive Board Herman Gref, President of the Russian Academy of Sciences Alexander Sergeev and VEB.RF’s Deputy Chairperson Natalya Timakova to membership of the Board of Trustees.
VEB.RF Chairman Igor Shuvalov Speaks at Forum of Development Institutions
Speaking at the Forum of Development Institutions, Igor Shuvalov said: “We at VEB.RF, DOM.RF, REC, and RSMB Corporation are building a true partnership where each works towards the common goals, rather than working independently of each other. We have a unique chance and an opportunity to bring together diverse development aspects, from modernising life at street, neighbourhood and municipality level to developing export potential. We need coordination to accomplish the challenging tasks set by the Russian President.
“We are currently concentrating our efforts on developing a modern urban economy, which is built to a great extent by small businesses. This is where RSMB Corporation has a leading role. DOM.RF is responsible for preparing construction sites, creating a comfortable urban environment, and developing modern approaches in architecture. In partnership with REC, we promote the export of tourism services of Russian cities.
“As for cooperation with other development institutions, we can see the Russian Direct Investment Fund’s leading role in making direct investments, going into partnership with foreign funds, and making equity investments. VEB.RF can be a key player in granting loans and issuing guarantees. We suggest that all innovation issues on the development institutions’ agenda should be coordinated by the Skolkovo Foundation. In this context, our venture capital subsidiary VEB Innovations should work in partnership with Skolkovo while remaining a member of the VEB.RF Group. This is due to the particularities of risk and treasury management at innovation institutions.
“We have recently launched a project to create a shared platform for development institutions. The platform in this simple format should be as easy as possible to understand and use by market participants. Our goal is to insure that they will receive and pay back funds and that capital invested in development will multiply.”
Development Institutions’ Shared Service Centre to Be Established in Voronezh
On Thursday, an executive team of development institutions visited Voronezh. Comprising top managers of VEB.RF, DOM.RF, Russian Export Center, RSMB Corporation, etc, the delegation was headed by VEB.RF Chairman Igor Shuvalov.
The aim of the visit was to look into the potential of the DOM.RF shared service centre facilities to host a back office for development institutions. VEB.RF alone is expected to transfer up to 300 of its employees.
“We can see that certain service functions can be performed for VEB.RF, DOM.RF, RSMB Corporation, and REC via the Voronezh-based facilities. Currently, several hundred employees are to be additionally stationed here to provide us with a range of services. The transfer of certain functions from Moscow is to begin as early as this month. Apart from cost optimisation, this will create new jobs for Voronezh residents,” Igor Shuvalov said.
According to DOM.RF CEO Alexander Plutnik, the shared service centre has already a staff of 550. There are plans to increase it to 800. The centre in Voronezh was established in 2018. DOM.RF transfers to Voronezh its banking and mortgage support operations, cash operations, call centre, IT support, underwriting business, financial transactions, including project finance contract management.
VEB.RF issued short-term bonds in an additional placement to companies and corporations on 06 March 2019.
The Bank raised 13.8 billion roubles from bonds with a maturity of 14 days and a coupon of 7.59% p.a.
The par value of one bond is 1,000 roubles. The bonds were sold at 100% of their par value. The coupon is payable at maturity.
The arrangers of the bond issue are Gazprombank and Svyaz-Bank.
The bonds are on the Moscow Exchange’s Quotation List Level 1. The depository is National Settlement Depository.
Aleksey Sorokin Meets with Heads of Magadan Region and Khabarovsk Territory to Discuss Integrated Urban Development
In late February, Deputy Chairman of VEB.RF Aleksey Sorokin met with Head of the Magadan Region Sergey Nosov to discuss joint efforts in developing residential areas of the region. Building new, more comfortable houses and encouraging people to move to regional centres can be a solution. These measures will also help to optimize utility expenses. The effective improvement of specific residential areas was exemplified in the case of the town of Susuman. VEB.RF, together with its colleagues from DOM.RF, is currently working on a master plan for Magadan. The work was started as instructed by Russian Prime Minister Dmitry Medvedev.
Early in March, Aleksey Sorokin discussed promising projects to develop the urban environment with Khabarovsk Territory Governor Sergey Furgal. Apart from the projects in which VEB.RF is already involved, the meeting also focused on cooperation in environmental protection (municipal solid waste sorting), heat power engineering (conversion of boiler stations from fuel oil and diesel oil to coal), electricity and water supply for residential areas, and on the promotion of natural gas-powered municipal transport.