VEB to be recapitalized by 150 bln rubles, which will provide financial stability - PM
GORKI. March 29 (Interfax) - The decision on the recapitalization of Vnesheconombank (VEB) by 150 billion rubles has been made, Russian Prime Minister Dmitry Medvedev said, opening a meeting of VEB's supervisory board.
The recapitalization will provide the bank with financial stability, he said.
Medvedev said that the supervisory board of VEB will discuss approaches to creating a budget for the bank for 2016 on Tuesday, in particular a plan for activity to increase the financial stability of VEB.
"This concerns the recapitalization, the sale of assets, the improvement of decision making mechanisms for projects, that is, both measures of state support and internal activity, which is aimed at raising the effectiveness of the bank's operations. I want to tell you that a decision was made on the recapitalization of VEB by 150 billion rubles, this money will allow for guaranteeing the bank's financial stability in 2016, and allow it to meet its obligations on foreign borrowings on capital markets. This decision was made as part of the general government plan to provide the stable socioeconomic development of our country this year," he said.