VEB, Germany Create Fund

By The Moscow Times

Jan. 12, 2012

GORKY, Moscow Region — VEB is in the process of setting up a 1 billion euro ($1.27 billion) investment fund with Germany to finance small- and medium-sized businesses in Russia.

It should be operational by the end of March, Vladimir Dmitriyev, chairman of Russia's state-owned bank VEB said Thursday at a meeting with President Dmitry Medvedev.

Russia and Germany agreed in July to set up the investment fund, targeting a size of 1 billion euros in two to three years. Medvedev criticized state banks at the meeting for imposing high interest rates on loans for small and medium businesses, and stressed the importance of supporting fledgling firms.

(Reuters)

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

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 you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue