May 24, 2018 / 12:12 PM / in a year

Putin says Russia will support VEB by providing capital

FILE PHOTO: Russian President Vladimir Putin delivers a speech as he attends the 6th Youth Judo Tournament in memory of judo trainer Anatoly Rakhlin in St. Petersburg, Russia May 23, 2018. REUTERS/Grigory Dukor

MOSCOW (Reuters) - The Russian government will support state development bank VEB by providing capital, President Vladimir Putin said on Thursday on a meeting with the bank’s head Igor Shuvalov, the former first deputy prime minister.

VEB recorded a loss of 287.7 billion rubles ($4.69 billion) in 2017 after a loss of 111.9 billion a year earlier.

Reporting and writing by Denis Pinchuk; editing by Jason Neely

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