On the Results of Vnesheconombank Supervisory Board Meeting

Commenting on the results of the meeting, Vnesheconombank Chairman Vladimir Dmitriev said at a press briefing that Russia banks and companies submitted to VEB applications worth 78 billion dollars for refinancing foreign debts. According to him, 9.8 billions in applications were made available and out of them 7.5 billion dollars have been already transferred to banks and companies for refinancing their debts. “In the near future, we expect funds to be transferred for conducting a number of transactions, which were approved”, said V. Dmitriev.

V. Dmitriev also said that Vnesheconombank’s Supervisory Board had resolved to consider applications for refinancing from state monopolies provided that they carried on implementing investment programs. “Vnesheconombank’s Supervisory Board made a decision to consider natural monopolies’ applications for refinancing provided that they carry on implementing their investment programs”, he stressed.

Moreover, V. Dmitriev said that Vnesheconombank’s Supervisory Board recommended to provide state financing to Alfa-bank, NOMOS-bank, Khanty-Mansi bank. As he put it, “these banks both provide retail banking services and service corporate customers which play a significant regional role.

“VEB is planning to submit a concept for development of its subsidiaries such as the Russian Development Bank, Roseximbank, Svyaz-bank and Bank Globex by mid 2009”, said V. Dmitriev.

Origin: Internet portal of the Government of the Russian Federation

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