Good news for Russian bank

RUSSIA / FSU POLITICS - In Brief 28 May 2019 by Alex Teddy

At a meeting of VEB.RF the bank decided that this state corporation can take out loans and have them guaranteed by the government. VEB has various investments in mind. National projects have been hard to fund due to limited access to international financial markets.It looks like US sanctions will be reduced after US Secretary of State Mike Pompeo visited Russia last week. The US is far more worried about Iran, China and North Korea. The United States can only pressure so many countries at a time. The White House is amenable to compromise but Congress might not be.The Russian Central Bank reduced the risk coefficient for lending to VEB.RF from 20% to 100%. This indicates there is good news from the US.VEB plans to lend on the basis that it will put up 80% of the money and the project operator will find the other 20%

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