PM: VEB key in May decree implementation, may get extra capital

GORKI, Moscow Region, May 29 (PRIME) -- Russia’s state-owned Vnesheconombank (VEB) will become of the instruments for the implementation of the president’s May decree, and its capital may be increased in the future, Prime Minister Dmitry Medvedev, chairman of the supervisory board, said at the board’s meeting on Tuesday.

“VEB now has a new development stage, it should become the key instrument for the implementation of tasks outlined in the president’s May decree. Much has to be done for VEB to become efficient development institute, as we wanted to see it, there is a necessary capacity for it, but in the future a capital boost of the bank should be made,” Medvedev said.

President Vladimir Putin earlier signed a decree on Russia’s national goals and strategic development tasks till 2024 in which he ordered the government to ensure the country’s entry into the top five of global economies, a higher than global rise of the national economy, and inflation not exceeding 4%.

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