Putin invited Shuvalov to head VEB

Moscow. May 24. INTERFAX.RU – Russian President Vladimir Putin met Thursday at the Constantine Palace with a former first Deputy Prime Minister Igor Shuvalov and asked him to head the web.

“Thank you for the trust will not fail”, – Shuvalov said in response to the proposal of the President.

“The institution for development (Vnesheconombank – if) that’s exactly what he became, you need to maintain, you’ll have to capitalize,” said Putin. He noted that “this is a separate issue”. “I know that you discussed it with the Prime Minister”, – the President said Shuvalov.

Igor Shuvalov, who is Russian President Vladimir Putin on Thursday proposed to become Chairman of Vnesheconombank, said that the Bank is capable of becoming a tool for the implementation of facing the country’s development agenda.

A good Bank

“Overall, the Bank is now in good condition and, as I understand it, it needs now to acquire a true sense of development and to fit into this agenda that you have announced the may decree. I have this agenda fully share. It is very important for Russia. And Vnesheconombank can take the place of one of the Central tools to implement this agenda. The experience, strengths and knowledge will use in order to achieve this goal,” – said Shuvalov at a meeting with Putin.

Answering the question of the President about his attitude to the proposal to head of VEB, Shuvalov recalled that in recent years, he worked in the Supervisory Board of Vnesheconombank.

“The issues that we discussed under the leadership of Prime Minister, known to me. The last two years the team under the leadership of Sergey Gor engaged on your behalf by the fact that I solved the most complex problems that had accumulated over previous years. The work was done,” – said Shuvalov.

Putin, for his part said that when he thought about Shuvalov’s candidacy and decided to offer him this post came from the fact that he’s many years of working in the government was involved in large projects, cooperated with foreign partners.

“Really, Sergey (Gorkov – if) has done a lot to the Bank was revived again on its feet and has achieved real results and success. I think you will have a good team,” – said the President.

Earlier, a source “Interfax” close to the VEB, reported that the question of the appointment of former first Deputy Prime Minister Igor Shuvalov on a post of the head of Vnesheconombank resolved. Meanwhile, the press Secretary of the President Dmitry Peskov did not comment on reports about possible appointment.

On the past weekend in the Telegram number of channels has reported that Shuvalov may head the web. Tuesday’s edition of the Bell reported, citing sources, that former first Deputy Prime Minister discussed this option with Russian President Vladimir Putin and accepted the offer.

Himself Shuvalov earlier said he would be happy to get any job that will offer him the President.

“I want to work where the President will say. I any the rad, which will give the President,” he told reporters, answering a question whether he wants to continue to work in the government.


The current Chairman of VEB Gorkov were appointed by the President to this position in February 2016. He was replaced by Vladimir Dmitriev, who headed VEB since 2004. The team of VEB Gor was represented by Shuvalov.

Gorkov led the EBV in a time when the Corporation was under the sectoral sanctions the US and EU, have experienced huge problems with liquidity and asset quality. Having entered a new position, Gorkov described the situation in EBV phrase “the patient is more likely alive than dead.” VEB could not borrow on international capital markets to refinance foreign currency liabilities, and has acquired a large volume of non-core assets, the quality of which left much to be desired.

The main task of the new Chairman and management team of the Bank, most of whom previously worked together with Gorkov, Sberbank, was to develop a new business model, the problem of non-performing assets, as well as the development strategy of banks in Russia and Ukraine.

In the public agenda Gorkov focused on the theme of innovation support, as along with its former head, German Gref, the chief propagandist of the blockchain and management principles of agile.

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