Sunday, December 7, 2008

The Government will support the Russian 300 billion rubles.

The Russian government is ready to provide up to 300 billion rubles as gosgaranty on loans of domestic companies. This statement was made by Finance Minister and Deputy Premier Alexei Kudrin, Russia at a meeting on economic issues with the President, RIA Novosti.
According to Kudrin, state guarantees on loans to enterprises could be granted in two to three years. The Russian vice-premier added that under these guarantees government will not demand from enterprises and companies, but will "share with them the risks", said agency Interfax.
In addition, the first vice-premier Russia Igor Shuvalov told the meeting that the authorities will provide the largest carriers of Russia to 30 billion rubles of credits. The funds will be allocated Aeroflot, Transaero and alliance "Rosavia, which created goskorporatsiya" Rostehnologii and capital government. Another seven billion rubles would be sent to subsidize interest rates on loans to farmers.
In October, the Government of Russia has decided to send 50 billion dollars to refinance foreign debts of domestic enterprises and banks. Loans that are issued via Vnesheconombank already received "Rusal", Evraz Group and several other companies.

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