30 Nov 2009 21:15

VEB could invest up to 210 bln rubles in mortgage bonds in 2010

MOSCOW. Nov 30 (Interfax) - Vnesheconombank (VEB) could invest up to 160 billion rubles in AIZhK bonds and mortgage-backed bonds using the funds it will receive from the Russian Pension Fund in the first quarter of 2010 and another sum of up to 50 billion rubles by investing its own funds in these securities, the company said in a press release.

These decisions were made by the VEB supervisory board at its meeting on November 19. The use of these financial resources will help reduce mortgage rates and to increase the lending period, it said.