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Sovereign Wealth Funds Briefing - Categorized | Investment

VEB gets Welfare Fund cash for infrastructure

Posted on 14 January 2010

From Themoscowtimes.com: Money from the National Welfare Fund will be used to finance Vneshekonombank’s infrastructure projects, an arrangement that is profitable for the Finance Ministry and the state corporation but also carries significant risk.

In December, the ministry closed ahead of schedule a 175 billion ruble ($5.9 billion) deposit at VEB — which the state corporation received in October 2008 to support the stock market — and opened a foreign currency deposit…………………………………..Full Article: Source


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