State Development Corporation VEB.RF (or VEB) is the key Russian national development financing institution. It started its history in 1922 and in 2007 it acquired its development mandate.
VEB.RF is a driver of Russia’s development through implementing the government’s socio-economic policy, enhancing the competitiveness of the country’s economy and using innovations for its modernization.
VEB.RF fulfils its role in achieving the 2030 national development goals in a number of ways. First, it attracts private investment in priority development projects and mitigates the risks of economic cycles or complex project stages. Second, it structures priority economy projects and comprehensive development programs, makes public investment repayable and efficient. Third, it coordinates a number of specialized development institutions to build an integrated support system for the Government and business.
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.
VEB.RF has been nominated by the Government as the Methodology Center for Sustainable Development Financial Instruments. In this capacity it plays a key role in supporting sustainable finance system in Russia through the development of the corresponding national taxonomies, verification procedures and incentive policies.
VEB.RF operations are guided by its ESG Strategy with the goals to contribute to the national socio-environmental agenda, ensure the expansion of green finance mechanisms across the Russian Federation and gain international recognition for sustainability maturity. ESG criteria for projects are integrated into VEB.RF’s lending and investment process. VEB.RF strives to make 100% of its projects ESG compliant. In addition, VEB.RF’s key corporate processes are based on ESG and CSR principles.
VEB.RF and Sustainability on the web: https://veb.ru/en/sustainable-development/