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ECB quantitative easing to help Russian economy — VTB Deputy Chairman

DAVOS, January 22. /TASS/. A new round of the European Central Bank (ECB) quantitative easing (QE) will provide funds for the Russian economy, VTB Bank Deputy CEO Herbert Moos said at the Davos Economiuc Forum on Thursday.

"The supply of cheap and long-term funding will increase sharply in Europe. Investments in Russia can probably rely on a portion of these funds. Our partner banks tell us that they still have an appetite for investments in Russia. Certainly, they are more cautious and selective now but we see them refinancing corporate clients' debts, which will boost liquiidity supply. This is a positive step," Moos said.

The ECB was reported earlier to offer €50 billion monthly by late 2016 as part of its new quantitative easing program.