VEB creating direct-investment fund for Far East projects - Putin
KHABAROVSK. Dec 6 (Interfax) - A fund for direct investments in projects in Russia's Far East will be set up under the auspices of Vnesheconombank (VEB), Russian Prime Minister Vladimir Putin said at a United Russia conference in Khabarovsk.
"VEB's authority makes it possible to attract both major Russian and foreign financial institutions," the prime minister said.
Initial estimates put the new fund's project portfolio at 80-90 billion rubles in its first phase, Putin said.
The fund will not only support investment projects but also provide information and press in support of Russia's Far East by promoting it as prospective region for capital investments, Putin said.