VEB.RF Unveils $327 Billion Plan to Transform Russia’s Economy by 2030
VEB.RF, Russia’s state development corporation, has outlined an ambitious plan to finance major economic and environmental projects by 2030. Over the past three years, it has already channelled billions into green initiatives and structural adaptation. The organisation now aims to expand its support to over 30 trillion rubles in key sectors.
Between 2021 and 2024, VEB.RF directed more than 668 billion rubles ($7.3 billion) into green and climate adaptation projects. In 2024 alone, funding for these initiatives reached 99.7 billion rubles ($1.1 billion). The corporation also earned its highest-ever ESG rating that year, reflecting its growing focus on sustainability.
By late 2024, the total value of 90 projects backed by VEB.RF had climbed to 4.97 trillion rubles ($54.3 billion). The corporation’s direct contribution to these projects stood at 1.9 trillion rubles ($20.8 billion). Additionally, its registry of technological sovereignty and economic adaptation projects listed 45 initiatives worth over 3.2 trillion rubles ($35 billion).
Looking ahead, VEB.RF’s supervisory board approved a development strategy through 2030, targeting five core areas. The plan includes supporting projects worth over 30 trillion rubles ($327 billion), with 15 trillion rubles ($163 billion) allocated for direct financing. During the previous 2021–2024 period, VEB.RF-backed projects had already exceeded 24.3 trillion rubles ($265 billion).
No public records confirm that any partner institutions, alongside VEB.RF, have supported projects totaling over 30 trillion rubles in these five areas up to 2030.
VEB.RF’s strategy sets clear financial targets for the next six years, with a strong emphasis on green investments and economic restructuring. The corporation’s recent funding levels and project values suggest a significant scaling-up of its role in Russia’s long-term development plans.
