The bank will be allotted 70 billion rubles for the development of the Far East and recruitment of investors across the Urals.
Prime Minister Vladimir Putin held a meeting with Vnesheconombank's supervisory board, during which he heard the annual report and issued instructions on future work.
The prime minister said that Vnesheconombank should shift its focus to the regions and specified the main areas of operation. First, the bank should finance the development of the Russian Far East and the Baikal region. 70 billion roubles will be allotted from the budget to Vnesheconombank to be utilised by 2015. The bank will receive the first tranche of 5 billion rubles during this year.
As a result of the meeting, it was decided to establish a Far East development fund with a head office in Khabarovsk. The fund will become a subsidiary of Vnesheconombank. Apart from project financing, this department will be responsible for increasing the attractiveness of the region, Putin explained.
"The fund will be in charge of information and image support for the Far Eastern regions, as well as for their development as a promising capital investment platform for Russian and foreign investors."
Another region to get close attention is the North Caucasus. The supervisory board meeting arrived at a decision to issue a loan for the construction of the first stage of the mountain resort Arkhyz. The Vnesheconombank is already closely involved in the development of resorts in the North Caucasus: a corporation founded by the bank is financing the construction of six tourist resorts.
"Around 60 billion roubles has been allotted for their development from the federal budget, which is a substantial amount," Putin said.
Among the other tasks assigned to the bank, Putin singled out the development of mortgage loans and financing of innovations. Vnesheconombank has earmarked 250 billion roubles for the development of mortgage lending. The prime minister is confident that this measure will help to reduce the interest rates on mortgages and make them more affordable.
Putin decided to secure Vnesheconombank's investments for his new idea – setting up the Agency for Strategic Initiatives.
"Vnesheconombank has already provided 100 million roubles to the agency in aid. Let's now think about other support mechanisms for the projects that won the contest," the prime minister said.
The ASI management board selected from the applicants who presented their projects through the agency's website will be appointed in the nearest future. The winning projects, which can now count on Vnesheconombank's financial support, will also be announced.
Anastasia Novikova