Putin instructed to speed up the launch of projects under the equity capital fund program
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Russian President Vladimir Putin asked the government and VEB.RF to quickly launch investment projects within the framework of the equity capital fund program. The mechanism assumes that banks will allocate available funds to a fund that will guarantee the return on investments, the head of state explained. The guarantor is VEB.RF.
“I ask the government, together with Vnesheconombank, to ensure the speedy launch of investment projects within the framework of the equity capital fund program,” Mr. Putin said at the VTB “Russia Calling!” forum. He noted that the first such fund has already been created, but “widespread practical use” of the instrument is needed.
Equity funds are created through investments from VEB.RF and partner banks. The volume of one fund cannot exceed 50 billion rubles. In August, VEB.RF reported that it plans, together with partners, to create three equity funds by the end of the year. The total limit should be 150 billion rubles.
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