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Putin suggests ex-deputy PM Shuvalov as VEB head

May 24, 15:17 UTC+3

President Vladimir Putin invited former First Deputy Prime Minister Igor Shuvalov to head Vnesheconombank

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ST PETERSBURG, May 24. /TASS/. President Vladimir Putin invited former First Deputy Prime Minister Igor Shuvalov to head Vnesheconombank (VEB).

The meeting of the head of state and the former first Deputy Prime Minister took place on the sidelines of the St. Petersburg International Economic Forum.

Shuvalov agreed. "Thank you for your trust, I will do my best," Shuvalov said in response to Putin's proposal to head VEB.

Vnesheconombank requires additional capitalization to fulfill its functions as a development institution, Putin said. 

"This is a development institution. In order to ensure that it (VEB) really is (a development institution - TASS), it is necessary to support it, it needs additional capitalization. It is a separate issue, I know that you discussed it with the chairman of the government," Putin told Shuvalov.

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