Allocation of National Wealth Fund's assets to deposits in VEB.RF
Allocation of National Wealth Fund’s assets to deposits in VEB.RF
as of 1 November 2023
| Eligible investments of National Wealth Fund’s assets allocated to deposits / purpose of allocation | Maximum overall amount of allocation | Actual amount of allocation | Maximum period of deposit | Annual interest rate | Interest payment frequency |
|---|---|---|---|---|---|
| Not regulated | 175.00 bln. rubles1 | 50.00 bln. rubles2 | 8 June 2028 | 4.75 | Semiannually |
| 0.15 bln. rubles3 | 23 December 2042 | 5.00 | Quarterly | ||
| Loans to small and middle enterprises | 30.00 bln. rubles12 | 30.00 bln. rubles | 31 December 2027 | 6.25 | Quarterly |
| Loans to Joint-stock company “DOM.RF Russia Housing and Urban Development Corporation” | 40.00 bln. rubles12 | 40.00 bln. rubles | 1 June 2048 | 6.254, CPI + 1, but not less than 1, 5.005 | Quarterly |
| VEB.RF’s capital increase | 5.966 bln. US dollars (7% of overall volume of National Wealth Fund as of 6 September 2014)6 | (2.462 bln. US dollars) 138.83 bln. rubles7 | 26 September 2034 | LIBOR8 + 2.759, 0.2510, 2.8611 | Annually12 |
| (3.504 bln. US dollars) 197.58 bln. rubles7 | 26 September 2034 | LIBOR8 + 3.009, 0.2510, 2.8611 | Annually12 | ||
| Not regulated | Х | (0.288 bln. US dollars) 16.24 bln. rubles7 | 26 September 2034 | LIBOR8 + 3.809, 0.2510, 2.8611 | Annually12 |
| Financing of VEB.RF’s projects, implemented by organizations of real economy | 300.00 bln. rubles12 | 17.11 bln. rubles13 | 30 December 2030 | 6.00 | Annually |
| 4.41 bln. rubles14 | 20 December 2028 | ||||
| 30.58 bln. rubles15 | 30 December 2035 | CPI + 1, but not less than 1 | Monthly | ||
| 12.86 bln. rubles16 | 26 August 2047 | 5.00 | Monthly | ||
| Financing of the infrastructure project “Project Finance Factory program” | 120.00 bln. rubles17 | 120.00 bln. rubles | no sooner than 22 November 2027 and not later than 21 November 2042 | 7.5018, interest rate, set by the Bank of Russia for deposit operations at fixed rates19 | Quarterly |
| Total | Х | 657.76 bln. rubles | Х | Х | Х |
1 Requirements to the financial assets, National Wealth Fund’s assets could be invested in, approved by the Regulation of the Government of Russian Federation No.18 dated 19 January 2008, clause 12, subclause ”b”.
2 Placement on deposit to finance VEB.RF‘s investment in Gazprombank (Joint-stock Company) equity stake.
3 Placement on deposit to finance the project of creation, reconstruction and operating of property complex of public ground electric transport.
4 From 9 June 2020 till 31 December 2020.
5 CPI + 1, but not less than 1 – from 1 January 2021 till 31 December 2022, 5.00 – from 1 January 2023 till 1 June 2048.
6 Budget Code of the Russian Federation, article 96.11, clause 4.2; Requirements to the financial assets, National Wealth Fund’s assets could be invested in, approved by the Regulation of the Government of Russian Federation No.18 dated 19 January 2008, clause 12, subclause ”c1”; Decree of the Government of Russian Federation No.1749-p dated 6 September 2014, clause 1.
7 From 17 January 2018 due to the change of the currency of the deposit from US dollars to rubles.
8 Six month US dollar LIBOR rate.
9 From 26 September 2014 till 30 December 2015.
10 From 30 December 2015 till 17 January 2018.
11 From 18 January 2018 till day of deposit repayment.
12 Over the period from 26 September 2015 till 30 December 2015 and over the grace period from 30 December 2015 till 26 September 2018 interest was accrued, not capitalized and paid in the last day of the grace period - 26 September 2018.
13 For the purpose of financing the project “Acquisition and leasing of subway cars to the Moscow Metro” (LCC-1).
14 For the purpose of financing the project “Construction of new airport complex “Centralny” (city of Saratov)”. 15 For the purpose of financing the project “Acquisition and leasing of subway cars to the Moscow Metro” (LCC-2).
16 For the purpose of financing the project “The renewal of the rolling stock of the State Unitary Enterprise “St. Petersburg Metro”.
17 Allocated to subordinated deposit in accordance with the Decree of the Government of Russian Federation No.2252-р dated 16 August 2022.
18 With respect to funds, allocated for financing of the infrastructure project “Project Finance Factory program”.
19 With respect to funds, allocated by VEB.RF in credit institutions within the frame of liquidity management operations.
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