NATIONAL AND MULTILATERAL DFIs IN RUSSIA AND THE IMPACT OF THE BRICS NEW DEVELOPMENT BANK

The document analyzes Russia's extensive but fragmented system of development institutions, noting a lack of common strategy and a heavy reliance on government funding over private investment. It identifies the Vnesheconombank (VEB) as the primary institution, though it often duplicates the roles of others like the Russian Agricultural Bank and Rusnano. The author argues that the BRICS New Development Bank (NDB) could complement this system by investing in infrastructure projects, such as the Power of Siberia gas pipeline, and providing consultancy on public-private partnerships and foreign investment legal structures.

• Russia's system of development institutions is extensive and covers priorities such as housing, healthcare, education, and agricultural development, but it lacks a common strategy and long-term vision, leading to duplication of efforts between institutions.
• The Vnesheconombank (VEB) serves as the primary development institution with a mission to diversify the economy and boost competitiveness, but it often overlaps with specialized entities like the Russian Agricultural Bank in the agricultural sector and Rusnano in advanced technology.
• Russian development institutions are heavily dependent on public funding and government subsidies, with limited participation from private investors compared to advanced economies.
• The BRICS New Development Bank (NDB) is well-positioned to integrate into Russia's system because its focus on infrastructure projects only partially overlaps with existing national institutions.
• Specific opportunities for NDB involvement in Russia include investing in the Power of Siberia gas pipeline, advising on public-private partnerships (PPPs), and helping create legal structures for direct foreign investments among BRICS members.

APA

Morozkina, A. (2015). NATIONAL AND MULTILATERAL DFIs IN RUSSIA AND THE IMPACT OF THE BRICS NEW DEVELOPMENT BANK. South African Institute of International Affairs. https://saiia.org.za/wp-content/uploads/2015/04/BRICS-Insights-4.pdf

Chicago

Morozkina, Alexandra. NATIONAL AND MULTILATERAL DFIs IN RUSSIA AND THE IMPACT OF THE BRICS NEW DEVELOPMENT BANK. South African Institute of International Affairs, 2015. https://saiia.org.za/wp-content/uploads/2015/04/BRICS-Insights-4.pdf.

Wikipedia

{{cite report |last1=Morozkina |first1=Alexandra |title=NATIONAL AND MULTILATERAL DFIs IN RUSSIA AND THE IMPACT OF THE BRICS NEW DEVELOPMENT BANK |publisher=South African Institute of International Affairs |date=2015 |url=https://saiia.org.za/wp-content/uploads/2015/04/BRICS-Insights-4.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{morozkina2015national, author = {Morozkina, Alexandra}, title = {{NATIONAL AND MULTILATERAL DFIs IN RUSSIA AND THE IMPACT OF THE BRICS NEW DEVELOPMENT BANK}}, institution = {South African Institute of International Affairs}, year = {2015}, url = {https://saiia.org.za/wp-content/uploads/2015/04/BRICS-Insights-4.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }