VEB could boost loan book more than 100 bln rubles - Putin
MOSCOW. Feb 24 (Interfax) - Vnesheconombank (VEB) plans to boost its loan portfolio more than 100 billion rubles, Russian Prime Minister Vladimir Putin said at a meeting of the bank's supervisory board on February 22.
"These financial resources will go on large-scale investment projects," he said.
"Around another 10 billion rubles" will be set aside for small business funding, Putin said.
SME funding should hit 250 billion rubles by 2015, Putin said. "This came to 150 billion rubles in 2010," he said.
VEB will lend for hi-tech projects, including a $1.6 billion credit line to build a plant to produce ammonia, methanol and carbamide in Tatarstan. The plant will export carbamide to the CIS, Europe and Asia, and supply nitrogen fertilizer to Russian farmers.
VEB has put more and more emphasis on long-term development goals, major investment projects, modernization, SME support and mortgages, Putin said.
These ought to be key areas in 2010 also," he said.