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Development institutions and banks will invest up to 350 billion rubles in the Far East projects within 5 years

VEB.RF and development institutions – the Far East Development Fund and the Russian Export Centre – together with banks can invest in the Far East projects up to 350 billion rubles within the next five years. This was reported to the TASS Agency by Yuri Korsun, the Deputy Chairman at VEB.RF.

"VEB.RF and development institutions coordinated by the state corporation are the Far East Development Fund and the Russian Export Centre, which, together with commercial banks, can invest in the Far East projects up to 350 billion rubles within the next five years. The priority list includes a number of export-oriented projects with high added value in industries such as gas chemistry, forest industry complex, shipbuilding, and agriculture," he said.

He added that the export potential of enterprises in the Far East, which will be established with the support of VEB.RF, is estimated at about $2 billion a year.