Russia’s largest development institution
Equity
431
billion roubles
Assets
3 210
billion roubles
Loan Portfolio
1 344
billion roubles

VEB.RF is a Russia’s national economic development institution. It is a state corporation established by Russian federal law exclusively for the public good. It is a non-commercial, non-profit organization with no shareholders. VEB.RF’s charter capital comprises funds and other property contributed by the Russian Federation; it also receives direct contributions from the Federal Budget. However, it is not a ministry or a state agency, but a special entity, tasked with facilitating a wide range of socio-economic development activities.

In partnership with commercial banks, VEB.RF provides financing for large-scale projects to develop the country’s infrastructure, industrial production and social sphere, strengthen its technological potential and improve quality of life. In mid-2018 VEB.RF was has embarked on a new business model with focus on the following areas: infrastructure, high value-added industry, urban development.

VEB.RF is also a government agent for Russia’s foreign debt, both of the Russian Government and of the former Soviet Union, and the management of certain pension funds through State Trust Management Company (“STMC”), a separate division of VEB.RF.

The highest governing body of VEB.RF is the Supervisory Board chaired by Prime Minister of Russia. VEB.RF coordinates activities of other specific national development institutions:

  • DOM.RF (housing and urban development corporation)
  • Russian Export Center (supports the development of non-commodity export);
  • VEB Ventures (venture funding);
  • SME Corporation (tasked with assisting and nurturing Russian small and medium enterprises);
  • Far East and Arctic Region Development Fund (tasked with assisting region’s economic development);
  • Monotowns Development Fund.

White Paper and our activities

Executive boardFlow Chart
  • Supervisory Board
  • Chairman
  • Management Board
  • Other Top Managers
Mikhail Mishustin
Mikhail Mishustin
Prime Minister of the Russian Federation - Chairman of the Supervisory Board
Andrei Belousov
Andrei Belousov
First Deputy Prime Minister of the Russian Federation
Yury Borisov
Yury Borisov
Deputy Prime Minister of the Russian Federation
Dmitry Grigorenko
Dmitry Grigorenko
Deputy Prime Minister of the Russian Federation – Chief of the Government Staff
Maxim Oreshkin
Maxim Oreshkin
Presidential Aide
Maksim Reshetnikov
Maksim Reshetnikov
Minister of Economic Development of the Russian Federation
Anton Siluanov
Anton Siluanov
Minister of Finance of the Russian Federation
Marat Khusnullin
Marat Khusnullin
Deputy Prime Minister of the Russian Federation
Igor Shuvalov
Igor Shuvalov
VEB.RF Chairman
Igor Shuvalov
Igor Shuvalov
Mikhail Kuzovlev
Mikhail Kuzovlev
First Deputy Chairman — Member of the Board
Nikolay Tsekhomskiy
Nikolay Tsekhomskiy
First Deputy Chairman — Member of the Board
Mikhail Poluboyarinov
Mikhail Poluboyarinov
First Deputy Chairman — Member of the Board
Sergey Lykov
Sergey Lykov
Deputy Chairman — Member of the Board
Alexey Miroshnichenko
Alexey Miroshnichenko
Deputy Chairman — Member of the Board
Natalya Timakova
Natalya Timakova
Deputy Chairman — Member of the Board
Svetlana Yachevskaya
Svetlana Yachevskaya
Deputy Chairman — Member of the Board
Irina Makieva
Irina Makieva
Deputy Chairman
Artyom Dovlatov
Artyom Dovlatov
Deputy Chairman
Alexey Ivanchenko
Alexey Ivanchenko
Deputy Chairman
Yuriy Gazaryan
Yuriy Gazaryan
Deputy Chairman
Marina Romanova
Marina Romanova
Deputy Chairman
Konstantin Chagai
Konstantin Chagai
Deputy Chairman
Sergey Kuznetsov
Sergey Kuznetsov
Deputy Chairman
Yuriy Korsun
Yuriy Korsun
Deputy Chairman
Daniil Algulyan
Daniil Algulyan
Deputy Chairman
Alexey Sorokin
Alexey Sorokin
Deputy Chairman
Andrei Klepach
Andrei Klepach
Chief economist
Vyacheslav Shulenin
Vyacheslav Shulenin
Deputy Chairman
Cesare Maria Ragaglini
Cesare Maria Ragaglini
Deputy Chairman

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