Vladimir Putin's introductory remarks:

Good afternoon,

Today, we are holding a regular meeting of Vnesheconombank's Supervisory Board. For the last few months, VEB has been playing a major role as the Government's agent in implementing anti-crisis measures. We have items linked with this work on today's agenda; for instance, a proposal to give a 75 billion-rouble subordinated loan to Gazprombank.

In turn, Gazprombank will make a commitment to issue the same worth of loans to the real economy, and, importantly, at affordable interest rates. As we have agreed, they should be 3% plus to the Central Bank's refinancing rate.

This is not a one-time commitment. Both Gazprombank and other recipients of subordinated loans should maintain the agreed-upon scale of loans as long as they benefit from government support.

Let me reiterate that although Vnesheconombank is actively involved in implementing the anti-crisis programme, its main function is still not to tackle present-day problems but to facilitate long-term national development, and provide major capital-intensive investment.

Some time ago, I signed an executive order on introducing another 100 billion roubles for these purposes to VEB's charter capital, and today we will look into several new projects, such as the construction of an electric power plant in Western Siberia and a cement plant in the Penza Region.

I would like you to reach a logical conclusion over the issue concerning the construction of a car assembly plant in Vladivostok in the Primorye Territory. We have said more than once that transfer of modern car making into our territory should become a real alternative to car imports, in particular used car imports.

This plan is being carried out successfully in the European part of Russia. In the last few months, a number of large plants have been opened here, and thousands of new jobs created. Practically speaking, all major carmakers have come to Russia. Now it is the turn of the Far East, which also has all the prerequisites for organising modern car production.

And, finally, there is a plan to allocate 10 billion roubles for loans to small and medium-sized businesses. This sum will be introduced into the charter capital of a VEB-affiliated, specialised bank. Experience shows that the programmes of the bank in question, the Russian Bank for Development (RBD), are vital for the regions.

Now let's begin our work.