VEB turns to China to fund major housing drive

VEB: Vnesheconombank is planning  to raise several billion dollars through its VEB Asia subsidiary to fund a major drive to build affordable housing in Russia. Earlier this week, VEB Asia and Russia’s Housing Mortgage Lending Agency signed an MoU with the China Development Bank to this effect, with VEB Chairman Vladimir Dmitriev  insisting this had nothing to do with Western sanctions.  “We need to solve the problem of affordable comfortable housing, and the Chinese have a lot of experience,”  he said . Interfax