VEB, the state development bank chaired by Prime Minister Vladimir Putin, plans to borrow more than $8 billion next year, the bank said Monday, confirming an earlier report by Vedomosti.
“In 2011, VEB doesn’t plan to reduce the rate of borrowing growth,” deputy chief executive officer Pyotr Fradkov said, according to the bank’s press department.
VEB borrowed about $8.2 billion this year through bonds and loans. The bank said it may sell bonds denominated in rubles, euros and Swiss francs internationally next year.
(Bloomberg)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
