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Russian economy needs huge additional resources for restructuring — Central Bank

"Banks that finance such projects will be able to use lowered risk weights for them when computing capital adequacy indicators, when certain conditions are met," Elvira Nabiullina noted

Governor of the Central Bank Elvira Nabiullina Sergei Bobylev/TASS

Governor of the Central Bank Elvira Nabiullina

© Sergei Bobylev/TASS

ANOSINO, March 2. /TASS/. The Russian economy currently needs significant additional resources for restructuring, Governor of the Central Bank Elvira Nabiullina said.

"The economy needs huge additional resources now. Funding should be directed to critical and the most needed directions of economic cooperation. To this end the Russian government and we have developed a program of stimulating risk-sensitive regulation for projects of technological sovereignty and structural adaptation of the economy," Nabiullina noted.

"Banks that finance such projects will be able to use lowered risk weights for them when computing capital adequacy indicators, when certain conditions are met," she noted, adding that the program might go live this summer.

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Central Bank of Russia

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