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MOSCOW, March 6. /TASS/. The forex risk hedging mechanism is also required for investment projects, Deputy Chief Executive Officer of the state-owned Vnesheconombank (VEB) Andrei Klepach told TASS in an interview on Monday.
"It is clear that risks are high in the environment of huge fluctuations of the exchange rate. This problem is important for VEB not merely in terms of hedging current fluctuations but within the framework of investment projects as well. They are long-term by nature and a huge forex component in case of its presence becomes a significant barrier and a risk area, making projects more expensive and introducing high uncertainty," Klepach said. Vnesheconombank will have to work out a hedging mechanism for investment projects and probably to be more active in working on that market, he added.
The Russian Government will offer a standardized currency risk hedging mechanism to exporters, Minister of Economic Development Maxim Oreshkin told reporters earlier. The mechanism will be designed for small and medium businesses in the first instance, he added.