VEB may finance planned weapons design centre

MOSCOW. Russian Bank for Development, or VEB, will consider the possibility of providing up to RUR2.3bn ($71.5mn, or €52.9mn) for a military engineering centre project, Ispytatel.The funding is to be provided for ten years, in accordance with an agreement signed between VEB and armoured vehicle maker Military Industrial Company during Russian Arms Expo in Nizhni Tagil, VEB said in a news release.The company is to draft an investment proposal and a feasibility study for the planned engineering centre. The bank will provide consultancy support for the project, conduct an appraisal of the documents and will also consider the possibility of financing the project.