3 Oct 2022 10:10

Russia's VEB to open office in Belarus

MINSK. Oct 3 (Interfax) - Russian state development corporation VEB.RF plans to open a representative office in Belarus and President Alexander Lukashenko has given assurances that the "Belarusian side will provide every assistance in this," state news agency BelTA reported after Lukashenko's meeting with VEB.RF chairman Igor Shuvalov in Minsk on Friday.

VEB has had a subsidiary bank in Belarus, BelVEB, since the end of 1991. VEB became the principal shareholder of the Belarusian bank in 2007 and now owns 97.5% of shares. BelVEB was fifth largest by assets among Belarus's 24 banks at the beginning of 2022.