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Medvedev suggests raising Far East Development Fund capital by RUB 15 bn.

October 29, 2012, 17:50 UTC+3
Prime Minister noted that this would be only the first step, the overall volume exceeds 100 billion roubles
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GORKI, October 29 (Itar-Tass) — Prime Minister Dmitry Medvedev suggested considering the possibility of increasing he charter capital of the Far East Development and Baikal Fund capital by 15 billion roubles and consequently bring it to 100 billion roubles.

“The Fund is now selecting projects, and funding should go mainly to the most effective and best prepared projects,” the prime minister said at a meeting of the Vnesheconombank’s Supervisory Council on Monday, October 29.

“We will discuss increasing the charter capital of the Fund by 15 billion roubles through VEB capitalisation,” he said.

Medvedev noted that this would be only the first step. “In the future, we may funnel other revenue there as well,” he said. “The overall volume exceeds 100 billion roubles,” he added.


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