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Olympic debtors VEB will receive 25 years to repay the loans

Олимпийские должники ВЭБа получат 25 лет на погашение займов

The loans of Vnesheconombank (VEB) at the Olympic facilities will be restructured at a low rate for 25 years. This was stated by the Chairman of the Bank Sergey Gorkov, reports video News Service.

“Today, the Supervisory Board decided about the change of approach from the point of view of the restructuring of Olympic objects”, — quotes Agency of his word.

In his opinion, such decision will allow all borrowers to service the debt. In addition, it will help to develop the Olympic infrastructure. The Gorkov not told exactly what percentage will be restructuring.

“I think this is a very good solution for Bank, and for borrowers and for the country”, — summed up the bitter-sweet taste.

June 15, the Agency Bloomberg with reference to its sources reported that Vnesheconombank has actually stopped issuing new loans and financing most of the current projects.

On February 26 the Chairman of the state Corporation Vnesheconombank was appointed as the Deputy Chairman of Sberbank Sergey Gorkov. In this position, he was replaced by Vladimir Dmitriev, who held the position the past 19 years and released from it by the decree of the President of Russia.

With the need to recapitalize VEB faced two years ago. Its need for additional capital was estimated at 1.1 trillion rubles up to 2020. This was due to the government’s plans to use the VEB to Finance large-scale projects of Sochi-2014.

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