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Shuvalov replaced Solodov as head of the Board of Directors of the Far East Development Fund

  • Published in Economy
Chairman of VEB.RF, Igor Shuvalov, headed the Board of Directors of the Far East Development Fund, which includes representatives of VEB.RF (100% shareholder of the fund), the Ministry for Development of Russian Far East and Rostelecom.
This is stated in the press release of the state corporation.

The report notes that VEB.RF is involved in the implementation of a number of projects in the region: the development of one of the world's largest copper deposits in the Trans-Baikal Territory, the construction of a gas processing plant in the Amur region, the creation of a modern shipbuilding complex Zvezda in Primorye.

“This year the construction of the first railway bridge between Russia and China is completing, a new passenger terminal is being commissioned at the Khabarovsk airport, the first houses for employees of the Zvezda shipbuilding complex are being commissioned,” says the press release. The Fund also finances the development of the Inaglinsky coal deposit in South Yakutia, creation of the largest pig-breeding complex in the Primorsky Territory and a plant for deep processing of soybeans in the Amur Region, finances the construction of new ferries for the Vanino-Kholmsk crossing, the infrastructure for Sakhalin GRES-2. There is an online service for investors in aquaculture in the Far East, and a similar platform is being developed for the forest industry.

The Far East Development Fund was established by Vnesheconombank (VEB.RF) for the accelerated development of the Far Eastern and Baikal macroregions. The Fund facilitates the inflow of investments through the provision of preferential (from 5% per annum in rubles) and long-term financing of priority investment projects. Over the past five years, the Fund has invested over 35 billion rubles in priority projects in the Far Eastern Federal District. 56% of investments are directed to the new infrastructure, 23% - to agriculture, 13% - to the development of industry. In total, 14 projects with a total volume of 215 billion rubles are in the active implementation stage.

The previous head of the Board of Directors of the Fund was Vladimir Solodov, now the Chairman of the government of Yakutia.

Source: ТАСС