Moscow confirms talks on Russian-Venezuelan bank

Russian Finance Vice-Minister Dmitri Pankin confirmed on Tuesday that Moscow and Caracas have held talks on the possibility of organizing a Russian-Venezuelan state-owned bank to fund bilateral projects.

"Venezuela has made that proposal and that matter has been discussed on several occasions," Pankin told reporters, Efe quoted.

The second-in-command in the Russian Finance added that Russian authorities have not received yet the answers to some questions asked to the Venezuelan government.

The query includes composition of the bank initial capital and amount, as well as the type of operations.

Venezuelan President Hugo Chávez has said that the organization of a Russian-Venezuelan bank will be an item in the agenda to be discussed with Russian President Dmitri Medvedev, during his visit next week.