In order to finance economic development projects, Russia needs to mobilize the banking system, stated billionaire Viktor Vekselberg, the chairman of the board of the “Renova” group.
According to the businessman, who is in the top 30 of the richest people in Russia, with an estimated fortune of 9.2 billion dollars, the banks’ money should be directed towards state projects, especially those targeting “Russia’s technological leadership”.
“Where to get the money from? There is no money. Without money, as we know, nothing happens,” Vekselberg declared during the plenary session of the “Russian Industrialist” forum.
He added that “the money that banks will earn this year should be returned to the economy”. One of the directions of these funds, in his opinion, could be the recapitalization of the Industry Development Fund, which is currently “catastrophically small”.
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