Around 70 projects with total investments of 2 trillion rubles ($25.48 bln) have been approved under the Cluster Investment Platform mechanism, operated by the Industrial Development Fund, whose activities are coordinated by VEB.RF on behalf of the Russian Industry and Trade Ministry, head of the fund Roman Petrutsa announced this at a meeting with Russian Prime Minister Mikhail Mishustin. "To date, around 70 projects with a total investment budget of 2 trillion rubles have been approved under the Cluster Investment Platform," Petrutsa said. As one example of a project financed both by the fund and through the investment platform mechanism, Petrutsa cited the construction of a modern train for Russia’s high-speed railway. The fund’s head also said that the Fund’s current work is directly linked to the updated national projects launched in 2025. The Industrial Development Fund was established in 2014 at the initiative of the Russian Industry and Trade Ministry to modernize Russian industry, launch new production facilities, and support import substitution.