Russian companies to get credit from VEB-agencies

MOSCOW, Sept 29 (Reuters) - State-owned Vneshekonombank (VEB) will loan up to $50 billion to Russian companies who need to pay back foreign debts, Prime Minister Vladimir Putin was quoted as saying on Monday. The measure is another step in Russia's rescue package for markets and the financial sector, and should help firms who are no longer able to borrow abroad due to the global credit crunch.

"Any Russian bank or company can apply to Vneshekonombank for a loan to repay foreign creditors on debts acquired prior to Sept. 25," Putin was quoted as saying by Prime-Tass news agency.

Interfax reported that Putin also said VEB's capital this year would be increased by 75 billion roubles ($2.97 billion), and that the central bank can compensate commercial banks for any losses sustained as a result of lending money on the inter-bank market. (Reporting by Toni Vorobyova, editing by Maria Kiselyova)