OREANDA-NEWS. December 11, 2008. Vnesheconombank’s Supervisory Board approved Vnesheconombank’s participation in refinancing a number of transactions by oil and gas complex enterprises and OJSC Bank VTB, the operation of which are of great socio-economic importance to the Russian Federation, in the total amount of 2 billon US dollars.

At present, the total amount of transactions approved by the Supervisory Board in refinancing foreign debt obligations of non-credit real sector enterprises and a credit institution responsible for financing the real sector of the economy is 11.8 billion US dollars.

The Supervisory Board also approved the first transactions in extending subordinated loan facilities to Russian banks. Thus, Vnesheconombank started to implement certain provisions of Federal Law dated 13.10.2008 N 173-FZ “On Additional Measures for Supporting the Financial System of the Russian Federation”.

Subordinated loan facilities in the total amount of 17.1 billion rubles are being extended to Russian credit institutions operating actively in the real sector of the economy: Alfa-Bank - in the amount of 10.2 billion rubles, Nomos-Bank – 4.9 billion rubles, the Khanty-Mansi Bank – 2.0 billion rubles