The government will spend on the recapitalization of VEB 150 billion rubles.

The Russian government adopted the decision on allocation on recapitalization of Vnesheconombank (VEB) in 2016 150 billion rubles, said at a meeting of the Supervisory Board, Prime Minister Dmitry Medvedev.

“This money will help in 2016 to ensure the financial stability of the Bank, perform Bank obligations foreign borrowings in the capital markets,” said Medvedev (quoted by TASS), explaining that the decision is part of an overall plan of action for ensuring sustainable socio-economic development in the current year .

On the eve of the newspaper Vedomosti, citing its sources reported that the government to allocate 150 billion rubles is already included in the financial plan of the VEB for 2016.

The Prime Minister noted that, having lost from-for imposed by the US and other countries of sanctions, access to external capital markets because of sanctions, the Bank in the difficult conditions of the exhausted “margin of safety”.

“The current action plan, which was developed in 2014, has largely lost its relevance for a variety of reasons, including due to worsening economic conditions. Now need accurate and at the same time non-standard measures,” Medvedev said.

The head of government assured that the web will remain a development institution and as such will continue to participate in the financing of major projects in industry, agriculture, transport and energy.

“In this sense, the targets for the Bank remain unchanged,” — said Medvedev, noting that if necessary the authorities can “make some changes” in the legislation.

Yesterday in the state Duma was introduced a bill on the conversion now controlled by VEB, the Russian direct investment Fund (RDIF) to a separate company, the sole shareholder of which will be the state. In the explanatory note to the document notes that the new law will help to develop “instruments of state to stimulate foreign and domestic investment” in the acquisition of RDIF “appropriate status”.