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Vnesheconombank’s Deputy Chairperson Irina Makieva Takes Charge of Monotowns Development Fund

The Supervisory Board of the Monotowns Development Fund has appointed Vnesheconombank’s Deputy Chairperson Irina Makieva as the Director General of the Fund. In addition, the Supervisory Board elected Maxim Oreshkin, Minister of Economic Development of the Russian Federation, as the Chairman of the Supervisory Board.


Vnesheconombank’s Chairman Igor Shuvalov said: “Cities are currently a driver of economic growth. Creating a comfortable urban environment is one of the priorities contained in the May presidential decree. It is not enough simply to create high-technology jobs. It is necessary, in partnership with local residents, to change the urban environment. This applies to public spaces, utility systems and transport infrastructure. We are going to implement projects that will make Russian cities more comfortable and convenient. And a logical step in this area is the transformation of the Monotowns Development Fund. The appointment of Economic Development Minister Maxim Oreshkin as the head of the Supervisory Board will ensure that this project will be duly coordinated by the government.”

Vnesheconombank’s Deputy Chairperson Irina Makieva said: “The Monotowns Development Fund has extensive experience in implementing projects that not only created new jobs, but also improved quality of life in 319 Russian one-factory towns. We are facing a major challenge of preserving best practices for support for one-factory towns and extending this approach to urban development in general.” Irina Makieva thanked Ilya Krivogov for his high-quality work for the Fund and for the formation of an effective team of professionals.

“The results of the Monotowns Development Fund were recognised as good; all the targets of the proper use of subsidies were achieved; the objectives were reached in full,” Irina Makieva said. Specifically, the Fund received 17 .9 billion roubles of subsidies from the federal budget. The Fund’s commitments in respect of its core activities is 17.7 billion roubles.

The Monotowns Development Fund participated in entering into framework agreements for 101 one-factory towns with 48 Russian regions, 31 agreements for co-financing for regional and municipal expenditures for the construction or rehabilitation of infrastructure facilities, and obtaining approval for loans under seven agreements.

In 15 one-factory towns, the Fund’s commitments have already been fulfilled in full. The construction of the utility and transport infrastructure was completed; 32 facilities were put into operation and are able to meet the needs of investment projects in full.

The Fund’s involvement in project implementation created 6,150 jobs in one-factory towns and attracted 39.5 billion roubles in investment.

The year 2017 saw the completion of training for 314 manager teams of one-factory towns, the design of comprehensive development programmes for all 319 one-factory towns, the signing of 29 agreements with development institutions, public institutions, businesses, credit institutions and other entities and a pilot rating of one-factory towns.

The meeting discussed future goals and objectives of the Fund. For instance, it was noted that the Fund’s experience of developing single-industry municipalities could be extended to other Russian towns.

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