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Russian government to allocate $2.5 bln for VEB capital increase in 2019

First Deputy Prime Minister and Minister of Finance Anton Siluanov said that VEB needs even more capital

WASHINGTON, October 19. /TASS/. The Russian Government through amendments to the budget will direct 160 bln rubles ($2.5 bln) from the federal budget for additional capitalization of VEB in 2019, First Deputy Prime Minister and Minister of Finance Anton Siluanov said on the sidelines of a meeting of the International Monetary Fund (IMF) and the World Bank.

"VEB needs even more capital. We are now allocating 160 bln rubles to VEB capital through amendments in 2019," Siluanov said.

Siluanov also said that the 200 bln rubles ($3.13 bln) that the government placed on VEB's deposit were intended not only to finance the Ust-Luga project, but also to a number of other projects.

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