Russia: Injection of 28 billion rubles (933 million US dollars) into the charter capital of the "Russian Technologies" to support the domestic car industry
Description
Russian Prime Minister Vladimir Putin signed a ruling (the Government Decree # 2080-p from 25 December 2009) effective from 8 January 2010 to inject 28 billion rubles (933 million Euros) into the charter capital of State Corporation "Russian Technologies" (http://www.rostechn.ru/en/) with the purpose to provide financial support in the form of non-interest loan to the Russian car industry producer "AutoVaz" (http://www.lada-auto.ru/). The share of "Russian Technologies" in the charter capital of AutoVaz will be increased. The subsidy is given to cover the AutoVaz's credit debts.
The industry is one of the strategic for the development until the year 2020 according to the "Long term concept of socio-economic development of the Russian Federation until 2020" (Government Decree from 17 November 2008 #1662-p). The company requires the funds to implement its financial bailout program and improve its operations.
At the beginning of May 2010, AutoVaz got this money on its bank account.
Any Evidence-Based Deliberation:
| Question | Result |
|---|---|
| Is there anything in the public record to suggest that evidence of the effectiveness of the proposed measure was considered during official deliberations? | Yes |
| Is there any evidence that alternatives to the proposed measure were considered? | |
| Is there anything in the public record that suggests that empirical evidence informed the comparison across the alternatives available to government? | |
| Was such evidence identified? | |
| Is such evidence publicly available? | |
| Did the official decision-maker in question provide an explanation as to why a chosen measure was favoured over alternatives? | |
| Is there any evidence to suggest that potentially affected trading partners were consulted before the measures were taken? | |
| Is there any evidence that safeguards have been put in place to ensure that implementation of the initiative is transparent and non-discriminatory? | |
| Did the government state its intention to review the measure within one year of implementation? |
Date Discovered:
Implemented: Yes
Date of inception: 8 Jan 2010
GTA Evaluation: Red
Source:
the Government Decree # 2080-p from 25 December 2009 - http://www.rg.ru/2009/12/31/zaim-dok.html
Government Response:
- 436 reads
