MOSCOW, Nov 12 (Reuters) - Russia's state bank VEB has received requests worth $75 billion for corporate refinancing aid -- 50 percent more than Moscow has set aside for the purpose, its chief executive was quoted as saying on Wednesday.
Russia had allocated $50 billion from its gold and forex reserves to help companies refinance foreign debts at a time when the international lending market has been sapped dry by the credit crunch.
Interfax news agency quoted VEB chief Vladimir Dmitriyev as saying companies have so far asked for $44 billion of refinancing aid, and banks for another $31 billion.
In October, Dmitriyev had said VEB had received bids worth a total of $97 billion. VEB declined to comment on the difference between his two statements.
The money will be available to companies working in the real economy and strategic sectors, who had borrowed to fund investment projects or asset purchases within Russia.
On Wednesday, Russian news agencies also quoted Dmitriyev as saying the bank had received requests for subordinated loans to the banking sector worth around 90 billion roubles ($3.29 billion) from around 30 banks.
In addition VEB has already allocated the 200 billion rouble subordinated loan destined for VTB, and the 25 billion roubles earmarked for Rosselkhozbank, Dmitriyev said.
A high level government source said last month that it was possible for the refinancing cash pot to be increased.
(Reporting by Dmitry Sergeev and Toni Vorobyova) ($1=27.33 Rouble) Keywords: RUSSIA REFINANCING/

(antonina.vorobyova@reuters.com; Tel: +7495 7751242, Reuters Messaging: antonina.vorobyova.reuters.com@reuters.net)

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