The State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ is a national development bank and one of the largest financial institutions in Russia. Established in 1924, Vnesheconombank has been operating in compliance with the special Federal Law on the Bank for Development since 2007. Vnesheconombank’s supreme governing body is the Supervisory Board headed by the Chairman of the Russian Government Dmitry Medvedev.
In compliance with the Strategy 2021, VEB will focus on financing high value-added industrial projects; infrastructure development, non-resource exports, innovations and National Technological Initiative projects.
VEB will operate at a new level of quality: it will proactively search for projects corresponding to the state’s priorities, thoroughly analyze business projects together with customers, draw private co-investments, and track the implementation of projects with the aid of the latest technologies.