VEB.RF is Ready to Become One-stop Solution for International Development Banks to Consider Infrastructural Projects in Russia

4 june 2021 года
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“Improved coordination and interaction among development institutions will facilitate development and boost potential of development banks not only in Russia, but also in Eastern Europe and Central Asia. The Russian Ministry of Finance is ready to coordinate this effort,” Pavel Snisorenko, Director of the Department for International Financial Relations, Ministry of Finance of the Russian Federation, said during the session “Multilateral Development Banks in the Post-COVID Era: Old Challenges and New Opportunities” at the St. Petersburg International Economic Forum in 2021.

“We have many instruments in our arsenal to facilitate the implementation of development projects. We are ready to employ them. Namely, we can provide bilateral and technical assistance to other countries etc.,” Pavel Snisorenko said.

The round table participants discussed the role of development banks in today’s world, their challenges and optimal ways to tackle them.

“Development requires unlimited resources, this why every dollar contributed to a development bank should be used as efficiently as possible for the sake of development,” Pavel Snisorenko said.

The pandemic helped the banks to embrace ESG agenda faster, to pay much more attention to the development of human capital, and balance coexistence of human beings and the environment.

Svetlana Yachevskaya, Deputy Chairperson and Member of the Management Board, VEB.RF:

“VEB.RF’s expertise and role on the Russian infrastructure market make it possible for us to become a one-stop solution for international development banks to consider investments into Russian projects. We have all the resources and competencies to evaluate project’s consistency with the mandates of MDBs and the highest international quality standards, and their eligibility for various support instruments. This joint effort made it possible to harmonise best approaches of Russian and multilateral development banks, to share the best practices with the Eurasian Economic Union, which will enable sustainable infrastructure development in this major and dynamic region.”

The panel discussion was attended by representatives of the World Bank, the New Development Bank, the Asian Infrastructure Investment Bank, the Eurasian Development Bank, the Black Sea Trade and Development Bank, the International Bank for Economic Co-operation, VEB.RF, VTB Infrastructure Holding, Expert RA, and KMPG.


The Russian Federation is a stakeholder in the following MDBs: institutions of the World Bank Group, the European Bank for Reconstruction and Development, the Asian Infrastructure Investment Bank, the New Development Bank, the Eurasian Development Bank, the Black Sea Trade and Development Bank, the International Bank for Economic Co-operation, and the Interstate Bank with the total stated capital over USD750bn.

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VEB.RF and Government of the Chelyabinsk Region Launch SIB to Support Intellectually Disabled People

4 june 2021 года
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The Chelyabinsk Region has become one of the pioneers to launch a social impact bond (SIB) in the area of assisted living for people with mental health disabilities. The SIB’s concept is approved by State Development Corporation VEB.RF that has traditionally been the operator for such projects. The respective agreement was signed at the SPIEF-2021 by Irina Butorina, Minister for Social Relations of the Chelyabinsk Region, and Mikhail Alashkevich, Managing Director of VEB.RF’s Government Agent Office.

The project aims to help mentally impaired local residents to become equal members of society. In the next two years, experts will assist 24 local residents in vocational training, finding a job, and improving their quality of life. The main goal of participants to the SIB is to never return to living in neuropsychiatric establishments. Eight participants will receive vocational training at home supported by their families. The other 16 participants who are patients of care homes will live in groups in specially selected apartments. The SIB’s participants will attend educational workshops.

The project will be implemented by Family+, a charitable foundation for disadvantaged families and kids. In the last two years, the foundation launched an assistance living programme for mentally impaired people. Participants to the programme learn how to switch from living in a care home to an apartment. The project will teach independence to the young participants who will be guided by mentors.

Svetlana Yachevskaya, Deputy Chairperson and Member of the Management Board, VEB.RF:

“Our task is to drastically increase the quality of life for these people, to give them an opportunity to socialise, to learn a profession or a craft, to lead a socialised life, to become independent. The main task is not to let the participants to this SIB end up in neuropsychiatric establishments again.”

VEB.RF will operate the project and assist the stakeholders throughout its implementation. Preparation is under way. First 16 participants to the SIB will move into new apartments from 1 October 2021. At this stage, social workers will be also selected.

“This innovative social impact bond will become one the main tools for the region to replace hospitals with homecare. Which will significantly improve the quality of life for mentally disabled and will make it possible for them to become equal members of society,” Irina Butorina, Minister for Social Relations of the Chelyabinsk Region, said. The Chelyabinsk Region has nine neuropsychiatric establishments for adults and three for children. These establishments have around 3,500 in-patients in total. Of course, we understand that not all of them are eligible for assisted living, but certain patients have potential to lead a socialised life if supported by social services and non-governmental development institutions.”

The project received support from Russian Copper Company, which contributed RUB31mn. The funds will be channelled into accommodation and support to social workers which will assist people with mental health disabilities.

This the second Russian SIB in the area of assisted living, the first one was launched in Yakutia last April.

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