Vnesheconombank's Chairman Sergey Gorkov visited a new CSKA football stadium for which the Bank provided financial support

The decision to invest in this infrastructure project was approved by the Bank's Supervisory Board in 2012. The first drawdown was in March 2013. The total project value amounted to USD 350mn with Vnesheconombank’s commitment standing at USD 241mn.

“The stadium should not shine like a luxurious five-star hotel, the focus should instead be on functionality and efficiency,” said Sergey Gorkov. “And this is exactly what was achieved helping to save USD 40mn. Initially, the required funding was estimated at USD 280mn, but the club managed to significantly cut the budget. Another reason to be proud is that everything was done in a timely manner. The facility is multi-purpose, pragmatic and innovative, as a good stadium should be. This is a big highlight for the CSKA club, for Moscow and for VEB.”