Govt commission approves renaming Vnesheconombank to VEB.RF

MOSCOW, Oct 30 (PRIME) -- The Russian government’s commission on legislative activities has approved renaming state-owned Vnesheconombank into VEB.RF, the government’s press office said on Tuesday.

“The Russian government commission for legislative activities has approved bills to create a mechanism for coordination of operations of development institutions. Due to the fact that Vnesheconombank will be engaged not only in lending, but also in complex support of projects, it is proposed to change the name of the state corporation to State Corporation National Institute of Development VEB.RF,” the statement said.

The change of the name does not imply reorganization and does not change or cease rights and liabilities of the state corporation, including Russian and foreign creditors.

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