March 18, 2013 16:49
VEB might get applications for 440 bln rubles in bond placements - Medvedev
GORKI. March 18 (Interfax) - Vnesheconombank (VEB) will review company applications for placing 440 billion rubles in bond form, Russian Prime Minister Dmitry Medvedev said at a VEB supervisory board meeting.
"VEB has already received official queries from OJSC Russian Railways (RTS: RZHD) (RZD), OJSC Federal Grid Company UES (RTS: FEES), the Agency for Home Mortgage Lending (AHML) and several other companies for placing bonds at a substantial amount, approximately 240 billion rubles, this year," he said.
These funds will be used to finance long-term infrastructure projects, solve housing issues, and develop and implement innovative technologies, Medvedev said.
"Furthermore, we will discuss the possibility for another 30 companies to participate in the program, which will want to place over 200 billion rubles this year in bonds," he said.
During the meeting, VEB's normative documents will be reviewed, particularly those dealing with its risk management policy.
"It [the policy] should establish unified principles of risk management and forms of reporting within the VEB Group framework," Medvedev said.
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