"We are considering the possibility of taking part in the UABC's new share issue. We can spend around 30 billion rubles on the company's stock", Anatoly Ballo said.
He said VEB was considering increasing its stake in the UABC to 20%.
Ballo also said the bank was ready to issue loans of up to 25 billion rubles ($1 billion) to the UABC.
VEB has also fixed loan limits for the construction of a pulp and paper plant in the Krasnoyarsk Territory, Siberia, at 45 billion rubles ($1.9 billion).
VEB Chairman Vladimir Dmitriyev earlier said German engineering company MAN AG was likely to develop a project to a Russian pulp and paper mill in the lower reaches of the Angara. The project should be launched in mid-2009.
VEB also announced plans earlier this week to transfer a 5% stake in EADS to the United Aircraft Building Corporation (UABC) in the second half of 2008.
Russia's state-run VTB bank sold a 5% stake in Europe's Aeronautic Defense and Space Company (EADS) to the Development Bank for $1.45 billion in late December.
The UABC, which is 90% state owned, incorporates aircraft building companies and state assets engaged in the manufacture, design and sale of military, civilian, transport and unmanned aircraft, and was formed to streamline the Russian aviation industry.
