4 Dec 2014 13:08

Leading Russian banks to receive NWF money to lend to investment projects - Putin

MOSCOW. Dec 4 (Interfax) - The leading Russian banks should receive money from the National Welfare Fund (NWF) to lend to investment projects in the real sector of the economy, President Vladimir Putin said.

"Using our reserves, primarily the National Welfare Fund, I propose implementing a program of recapitalizing the leading domestic banks. The money will be provided to them on principled terms, for allocation to the most important projects in the real sector of the economy at affordable interest rates," Putin told the Federal Assembly.