02.02.2021   07:26

Russian Railways receives tranche of preferential loan from Russia’s Ministry of Digital Development and VEB.RF to finance digital transformation programme

Russian Railways has become the first company in the transport infrastructure sector to receive a soft loan under the programme of Russia’s Ministry of Digital Development, Communications and Mass Media to support the digital transformation of companies based on the implementation of Russian solutions.

Last week, the first tranche was disbursed under the loan agreement between VEB.RF and Russian Railways. It was concluded in order to support the Company’s investment programme to implement Russian solutions in the IT sector. The loan’s total amount will be 8.9 billion roubles

The funds will be used to implement part of the Company’s digital transformation projects to introduce modern technologies for organising the transportation process, managing infrastructure, managing Russian Railway as a whole and creating a new generation of automated workstations based on domestic processors in the process.

“Digitalisation is one of the main tools for transforming Russian Railways into a modern and high-tech company. With the help of digital, we are looking for ways to make our work more efficient and at the same time move closer to our customers – both passengers and freight shippers,” said Oleg Belozerov, Chief Executive Officer and Chairman of the Board of Russian Railways.