On Monday, the Russian Prime Minister may announce the largest restructuring of most development institutions in decades. According to the media, this may affect about 40 structures with this status.

If the reform takes place, the institutions will lose their economic and legal independence and will become part of the state corporation for the development of VEB.

The State Corporation will thus become the main body responsible for public policy, the purpose of which is to stimulate innovation processes and develop economic infrastructure using public-private partnership mechanisms.

Innovations will eliminate inefficient and poorly managed links in the innovation process management system. Duplication of public functions will also be eliminated after the changes have been made.

Thanks to the reform, it is planned to eliminate corrupt factors, which, according to law enforcement officers and the Accounts Chamber, accompany the activities of a number of development institutions and funds, completely or significantly.

According to media reports, once VEB takes over the institutions, most of their managers will lose the opportunity to influence the distribution of finances. In particular, the media mention Anatoly Chubais, Chairman of the Board of Rosnano, Arkady Dvorkovich, Head of Skolkovo, and others.

Together with the reorganization, the status and hardware positions of VEB head Igor Shuvalov are expected to be significantly strengthened "to the conditional level of Deputy Prime Minister for Development", the media say.

However, institutions such as Rostech, Roskosmos and Rosatom have moved beyond the borders of the relevant reform.

In total, according to RBC, 8 development institutions will move to VEB. These are SME Corporation, the Russian Export Centre, EXIAR, the Industrial Development Fund, the Fund for Assistance to Small Innovative Enterprises, Skolkovo, Rusnano and the Fund for Infrastructure and Educational Programs.

Author: Ksenia Gustova