President Putin will chair a meeting on allocating National Welfare Fund resources 2013-11-05 15:00:00 Taking part in the meeting will be Prime Minister Dmitry Medvedev, Presidential Aide Andrei Belousov, First Deputy Prime Minister Igor Shuvalov, ministers of the Government’s economic bloc, Transport Minister Maxim Sokolov, Vnesheconombank Chairman Vladimir Dmitriev, Russian Direct Investment Fund CEO Kirill Dmitriev, Rosatom CEO Sergei Kiriyenko and Russian Railways CEO Vladimir Yakunin. 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.