June 4, 2018 / 8:52 AM / 6 months ago

Russia plans to inject 5 bln roubles into Promsvyazbank - fin min

MOSCOW, June 4 (Reuters) - Russia’s government has proposed to inject 5 billion roubles ($81 million) into the capital of Promsvyazbank, a bank lending to sanctioned businesses, Finance Minister Anton Siluanov said on Monday.

Promsvyazbank has already supported several businesses hit with sanctions, Siluanov told lawmakers in the parliament.

Russia’s central bank took over Promsvyazbank in a bailout last year. The lender was then earmarked by the government to provide credit to sanctioned entities so that other lenders could offload the risk.

$1 = 61.8060 roubles Reporting by Elena Fabrichnaya; writing by Maria Kiselyova; Editing by Toby Chopra

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