The Supervisory Board of Vnesheconombank will consider the strategy of the state Corporation on December 21

Набсовет ВЭБа рассмотрит стратегию госкорпорации 21 декабря

The Supervisory Board of Vnesheconombank will consider the development strategy of the state Corporation on December 21, reported RIA Novosti the Chairman of the Bank Sergey Gorkov.

“The twenty-first of December, we have a Supervisory Board. Then there will be a final decision,” he said, answering the question, when will the finalized strategy and what the priorities it identifies.

According to the draft of the new strategy of EBV to 2021, Vnesheconombank group intends to complete the process of withdrawal of non-core assets by the end of 2018. Phasing shall be two Russian Bank “GLOBEKS” and Communication-Bank and Prominvestbank, Ukrainian, Belarusian “Belveb”, Hong Kong “VEB Asia” and the Fund “VEB Innovations”, which was established for investment in high-tech projects of the SKOLKOVO Foundation. Gorkov said that the year 2016 is going to sell of non-core assets, only the ADR of Gazprom, the rest – later.

In November last year it became known that for the repayment of its obligations to VEB needs 1.3 trillion rubles, which would be an unbearable burden for the state in the conditions of low oil prices and the budget deficit. The authorities of the Russian Federation adopted a decision on recapitalization of Vnesheconombank in 2016 at 150 billion rubles for the performance of obligations under foreign loans.

Source