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Russia to use oil wealth fund for bank loans-Kudrin

Tue Oct 7, 2008 8:42am EDT

MOSCOW, Oct 7 (Reuters) - Russia will use one of its oil wealth funds to fund 450 billion roubles ($17.19 billion) of the 950 billion rouble subordinate loans package for banks, Finance Minister Alexei Kudrin said on Tuesday.

Stocks  |  Bonds  |  Russia

The 450 billion "will come from one of the funds which we have," Kudrin said.

Russia's two oil wealth funds totalled $189.7 billion on Oct. 1.

(Reporting by Gleb Bryanski, writing by Toni Vorobyova)



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