17 Dec 2012 15:22

VEB group raises some $7 bln in long-term credit resources in 2012 - Medvedev

GORKY. Dec 17 (Interfax) - The Vnesheconombank (VEB) group raised roughly $7 billion in long-term credit resources this year, Russian Prime Minister Dmitry Medvedev told the VEB supervisory board at a Monday meeting in Gorky.

"VEB substantially consolidated its role as an institution of development," the prime minister said at the meeting, the supervisory board's last for this year.

"More than $5 billion in long-term credit resources was successfully raised on the financial market, and across the Vnesheconombank group in general - about $7 billion," Medvedev said.

VEB also issued upwards of $700 million in Eurobonds, he said. "These figures are good, they speak to confidence in the bank," he said.