Report: Rusnano, Skolkovo to become controlled by VEB.RF

MOSCOW, Nov 23 (PRIME) -- The government has approved a concept of reorganization of Russia’s development institutions, and state development bank VEB.RF will control eight of them including state-owned nanotechnology company Rusnano and Skolkovo Foundation, RBC reported on Monday citing two sources close to the government and a source with a development institution.

“The goal of the reform is to create united mechanisms of management for the institutions and remove doubling of their functions by governmental bodies or commercial companies, and to tie the institutions’ development to Russia’s national development goals,” the newspaper quoted one of the sources as saying.

The other six institutions to be moved under VEB.RF’s control are Federal Corporation for the Development of Small and Medium Business (SME Corporation), the Russian Export Center (REC), the Russian Agency for Export Credit and Investment Insurance (EXIAR), the Industry Development Fund, tthe Foundation for Assistance to Small Innovative Enterprises (FASIE), and the Fund of Infrastructure and Educational Programs.

According to the sources, Rusnano CEO Anatoly Chubais may resign and be proposed another position although there is no final decision yet.

The sources also said that several development bodies will be eliminated, and their functions will be handed over to relevant authorities. The list includes three funds for development of the Far East, state company for management of special economic zones, Russian Fund for Informational Technologies Development and Rosinfocominvest.

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