The new bank, which will be based on Vnesheconombank, Roseximbank and the Russian Bank for Development (RosBR), is designed to become the main financial tool of state support for exports and borrowing in non-mineral sectors.
"The total [authorized] capital of the three banks after transformations is estimated at over $2 billion," German Gref said during the president's meeting with the Cabinet.
He said the creation of the new state development corporation will be submitted for the government's consideration Thursday.
"We have discussed the draft law for a long time, and there are still some procedural differences which we hope to settle by Thursday," Gref said.
He said additional opportunities to increase the bank's capitalization to implement large projects are being considered.
Finance Minister Alexei Kudrin in turn suggested that the reserves of the Investment Fund, which the government established to finance large-scale infrastructure projects, could be used for the purpose.
Gref said in August that the form of the three banks' merger had yet to be decided, but that two options were under consideration: Vnesheconombank, RosBR and Roseximbank would either remain legal entities or be fully merged.
