This fund will be allocated by a newly formed Strategic Investment Council operating under the Cabinet of Ministers.
People’s Deputy Yaroslav Zheleznyak reported that 240 MPs voted in favor of the bill, which was considered as fulfilling a requirement (“beacon”) outlined in the International Monetary Fund (IMF) program.
“This legislation creates what can be considered a unified public investment fund, managed by the Strategic Investment Council in the government,” Zheleznyak explained.
Under the new system, various previously separate funding streams—such as the Road Fund, the Radioactive Waste Management Fund, the Water Management Development Fund, the Decarbonization and Energy-Efficient Transformation Fund, the Inland Waterways Fund, and multiple subventions—will be consolidated into this single “fund of funds.” The government will then determine the allocation of these resources through the Strategic Investment Council.
