The National Welfare Fund (NWF) represents part of the federal budget subject to separate accounting and management to ensure the co-financing of Russian citizens’ voluntary pension savings, as well as to balance the budget of the Pension Fund.
As of November 1, 2013 the Fund contained 2 trillion 845 billion rubles ($87.8 billion). The Fund’s statutes stipulate that up to 40 percent of available funds can be invested in various projects.
At present around 670 billion rubles from the NWF have been placed in Vnesheconombank. In addition, 300 billion rubles will be allocated to implementation of projects such as the Baikal-Amur Mainline, Trans-Siberian Railway, and the Central Ring Road around Moscow, in accordance with earlier decisions. Thus, 34 percent of National Welfare Fund resources have been invested to date.