The government of Russia took a decision to additionally capitalize Vnesheconombank 150 billion rubles, said at a meeting of the Supervisory Board of state Corporation Prime Minister Dmitry Medvedev.
According to him, VEB, losing access to external capital markets because of sanctions, has lost a “margin of safety”, and now to support the desired “non-standard measures”.
“It’s about recapitalization, sale of assets, perfection of mechanisms of decision-making on projects”, – said Medvedev.
A day earlier, the Minister of economic development Alexei Ulyukayev said that the debt of VEB will be covered only at the expense of the budget.
“The only source is the Federal budget funds no other sources. These funds are reserved in it, but not itemized by object of expenditure,” Interfax cited the words of the speaker.
A month ago the President of Russia Vladimir Putin has appointed as head of Vnesheconombank of the former Vice-President of Sberbank Sergey Gor.
Change of the management of VEB, which performs the functions of a development Bank, came amid financial problems of the Corporation.
According to the former head of the Bank, the VEB needs $ 20 billion by 2020, including in order to escape default on foreign debts.
The rehabilitation plan of the Bank has been actively discussed only in December last year, after Putin said that many development institutions has become a “dumping ground for bad debts”.
Among the most problematic debt of VEB’s loans for Olympic construction and financing of the Ukrainian metallurgy, issued before 2014.
