Ufa is among first cities to receive funds for urban projects from VEB.RF

UFA, 21 August 2019. /Bashinform News Agency/ translated by Tatiana Aksyutina/.

Ufa entered the first wave of 45 cities for the implementation of urban development projects with the support of VEB.RF. This was reported by the press service of the corporation with reference to the Deputy Chairman of VEB.RF Alexei Sorokin.

“Urban residents amount to three-quarters of the country's population. Today, Russian cities are faced, in many ways, with similar problems: the need to upgrade the housing and utilities services fund, the need to modernize public transport, and the lack of effective technologies for processing solid household and municipal waste. We believe that solutions to these problems can be packaged into cost-effective projects that will provide a capital return,” said Alexey Sorokin.

The corporation is currently considering 109 projects in 45 cities. Many of them are projects in the field of modernization of public transport. VEB’s main banking tools in these projects are concessions, infrastructure loans, and leasing of new equipment. The "first wave" of cities for the implementation of urban development projects includes: Arkhangelsk, Barnaul, Veliky Novgorod, Vladivostok, Vladimir, Volgograd, Voronezh, Yekaterinburg, Ivanovo, Izhevsk, Irkutsk, Kaliningrad, Kaluga, Kemerovo, Kirov, Kolpino, Komsomolsk-na Amur, Krasnodar, Krasnoyarsk, Kursk, Lipetsk, Magadan, Makhachkala, Nizhny Novgorod, Novosibirsk, Omsk, Perm, Petropavlovsk-Kamchatsky, Rostov-on-Don, Ryazan, Samara, Saratov, Sergiev Posad, Syktyvkar, Tver, Tomsk, Tula, Ulan-Ude, Ulyanovsk, Ufa, Khabarovsk, Cheboksary, Chelyabinsk, Yuzhno-Sakhalin to Yaroslavl.

VEB.RF is a State Development Corporation. In partnership with commercial banks and investors, it participates in the implementation of national projects, including in the field of high-tech industry, non-resource exports, infrastructure modernization, and urban agglomerations. The perimeter of coordination of VEB.RF includes the largest development institutions of the country: Russian Export Center, Dom.RF, SME Corporation, Development Fund of the Far East, single-industry city.