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Russia's VEB may refinance loans/trim lending if state support cut - RIA
September 18, 2017 / 3:00 PM / in 2 months

Russia's VEB may refinance loans/trim lending if state support cut - RIA

MOSCOW, Sept 18 (Reuters) - Russia’s state development bank VEB will have to borrow to refinance its loans or cut its own lending to the economy if state support is cut in 2018/19, the RIA news agency cited the bank as saying on Monday.

Russian Finance Minister Anton Siluanov said earlier on Monday that VEB’s state funding would be reduced to 100 billion roubles ($1.72 billion) a year between now and the end of 2020. VEB got 150 billion roubles in state support in 2016 and 2017.

$1 = 57.9941 roubles Reporting by Denis Pinchuk; Editing by Andrew Osborn

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