Petr Fradkov will head the Bank for operations on state defense orders

© Photo courtesy of the press service Razheva REC Petr Fradkov. Archive photoPetr Fradkov will head the Bank for operations on state defense orders© Photo courtesy of the press service REC

Reference Bank for the implementation of operations for defense procurement and major government contracts will be established on the basis of PSB, it will be headed by the head of the Russian export centre (REC) Petr Fradkov, told journalists the Minister of Finance of the Russian Federation Anton Siluanov.

The Finance Ministry on Thursday announced that the government of the Russian Federation adopted the decision on the establishment of a reference Bank to implement the operations for defense procurement and major government contracts. It will provide banking support, settlement, and credit defense companies. In the near future the Bank will be transferred to state ownership.

«In accordance with the decision on the establishment of a reference Bank to execute transactions for the state defence order and large state contracts, the government of the Russian Federation jointly with the Bank of Russia as of the specified Bank is specified PSB», — said Siluanov. He noted that the Bank has a number of characteristics will be optimally suitable for the role of specialized banks.

«Leader Bank plans to appoint Fradkov Pyotr Mikhailovich», — added Siluanov.

The Bank of Russia in mid-December last year announced a reorganization of the PSB, the main beneficiaries are brothers Dmitry and Alexey Ananeva, through the controlled by the regulator Fund the consolidation of the banking sector (VCBS).

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