Medvedev: Russian government wants to develop VEB further

GORKI, Moscow Region, Feb 29 (PRIME) -- Vnesheconombank (VEB) remains the leading development institution in Russia in spite of the current problems and external environment, and the government plans to develop it further, Prime Minister Dmitry Medvedev said at a meeting with VEB’s new CEO Sergei Gorkov on Monday.

“Vnesheconombank, despite the current economic problems and unfavorable external conditions, including the absence of access to liquidity markets, or money of foreign banks, nonetheless remains our leading development institution,” the prime minister said.

VEB and the government will prepare a plan to increase capital of the bank and to improve its financial performance, Medvedev also said.

VEB is close to default, and the government has to find 1.3 trillion rubles to redeem its debts until 2020.

On February 26, President Vladimir Putin dismissed Vladimir Dmitriyev from his CEO post at VEB and appointed Gorkov. Dmitriyev had been VEB’s CEO for the past 12 years.

(75.0903 rubles – U.S. $1)

End