ANNOUNCED AS TEMPORARYNo
On October 8, 2013, the Government of the Russian Federation approved (according to Directive No. 1820-p) state guarantees at the amount of RUB 46 billion on loans extended to defence enterprises that fulfil approved state defence orders. Under this scheme, 11 enterprises benefit from 11 state guarantees.
This state measure has the goal to expand defence enterprises' capacity to attract non-budgetary sources of funding (loans) and carry out state tasks related to the execution of the state defence orders when the federal funding is received in the form of deferred payments.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
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