According to the press service of the bank, Sberbank occupies a leading position in the implementation of the VEB.RF Project Finance Factory program. Thus, the total transaction limit closed under the program with the participation of Sberbank exceeded 500 billion rubles.
It is noted that since the launch of the program, the bank has financed one-third of Factory projects. At the same time, Sberbank, together with VEB.RF, is exploring the possibility of concluding new loan agreements for more than 10 projects with a financing volume of more than 300 billion rubles at the moment.
“These projects and previously concluded transactions are among the priority sectors for investment: transportation infrastructure, industrial manufacturing, metallurgy, and the chemical industry,” the report said.
According to Sberbank Deputy Chairman Anatoly Popov, Sber actively uses the Project Finance Factory tool.
“Together with colleagues from the government and a number of commercial banks, leaders of the Russian syndicated loan market, we participated in the development of conditions and rules and the launch of the program in 2018. “This project finance tool has significant application potential, especially if its mechanisms are further developed for senior lenders and borrowers, including reducing project risks, increasing flexibility and simplifying procedures.”
Recall that the Project Finance Factory operated by VEB.RF deals with the selection of projects and also acts as a loan manager and is protected from risks. The program can finance projects from priority sectors. They must meet the following criteria: the minimum cost is 3 billion rubles, the financing period is up to 20 years, the minimum contribution of the project initiator is 15%. This mechanism allows you to finance socially significant projects across the country.