Peculiarities of Participation of the State Development Corporation «VEB.RF» in Financing Investment Projects

The article examines the role of the state development corporation VEB.RF in financing investment projects in Russia. The key support mechanisms, priority sectors and features of interaction with private and public partners are analyzed. Particular attention is paid to financing instruments, project selection criteria and their impact on the socio-economic development of the country. The purpose of the presented article is to study the features of VEB.RF participation in financing investment projects, including support mechanisms, selection criteria and impact on the economy. The author of the article comes to the following main conclusions. First, VEB.RF plays a key role in financing strategically important investment projects in Russia, using a variety of mechanisms, such as direct lending, project financing, syndicated loans and guarantees, as well as special support programs. These instruments allow the corporation to effectively combine state support with market principles, which contributes to the implementation of large infrastructure, industrial and social initiatives. However, the author emphasizes that the effectiveness of VEB.RF depends on the transparency of processes, the quality of project selection and adaptation to changing economic conditions, including sanctions pressure. Secondly, the article points to the need to improve the legislative framework and digitalize the budget ecosystem to improve the efficiency of project management. The author notes that foreign experience (for example, KfW in Germany and China Development Bank in China) can be useful for Russia, especially in terms of ESG criteria and large-scale infrastructure. In conclusion, it is emphasized that the further development of VEB.RF should be aimed at strengthening its role in the digital and «green» transformation of the economy, as well as eliminating the identified problems, such as bureaucratic barriers and insufficient automation of processes.