The speaker: the authorities finalize a plan support VEB

The speaker: the authorities finalize a plan support VEB


Next year the Bank will have to make a number of external payments, but their total amount does not exceed three billion dollars, said the head of Ministry of economic development Alexei Ulyukayev.

MOSCOW, 29 Dec. Road map for the development of EBV is in the final stages of negotiation and could be adopted in the near future, said the head of Ministry of economic development Alexei Ulyukayev.

“I think it’s a matter of days actually. Now prepared a plan, a road map for the adoption of the relevant decisions. And we are now in the final stages of discussion of the plan. I think we will be able to complete this work,” he said in an interview Vesti.ru answering the question of when may be a decision to support VEB.

“In the following year a fairly large volume of external payments, but not critical. Their total amount does not exceed $ 3 billion. It is quite feasible for VEB magnitude, so we can handle that,” added the speaker.

In his opinion, Russian authorities should take measures on financial recovery of the Corporation: to clean her balance from “meaningless”, “toxic” assets, increase capitalization of the institution.

“If we want it to be a development institution… of course will probably require changes in the governance structure, perhaps even in the law of the state Corporation for development, which would provide the possibility of separation of the VEB balance between effective commercial and special projects and so on. It’s a big job, but I think that in any case it will be done, and the web, after all, will return to the role of active tool development,” Ulyukayev said.

Discussion about measures of improvement of VEB, which includes about 20 companies and banks, is in the government for several months. The President of Russia Vladimir Putin in December in his address to the Parliament stated the need to conduct a “clearing” of many development institutions since they became a “dumping ground for bad debts”. Form of support of the state Corporation while, however, the Russian authorities have repeatedly stressed that all its obligations are fulfilled.