Vnesheconombank

Vnesheconombank (VEB) (Russian:Внешэкономбанк (ВЭБ)) is a Russian state corporation (a non-profit) that is a former Soviet bank. Vnesheconombank has no Russian banking license (i.e. Vnesheconombank is not a bank) and is not subject to the law on banks and banking activities. Translated to the English language, its name means "Bank of Foreign Economic Activity", though it is commonly called the "Russian Development Bank", and it refers to itself as "the state corporation Bank for Development and Foreign Economic Affairs”.