AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Financial assistance in foreign market
According to a press report dated 13 January 2016 of the state Eximbank of Russia, it signed with Miory metal-rolling plant from Belarus a loan agreement in the amount of 51.9 million EUR for a period of 10 years.
The funds are to be allocated for the construction of a plant for the production of tinplate and cold-rolled steel in Belarus. The risks of Eximbank of Russia related to the credit are covered by a second agreement, signed between Eximbank of Russia and EXIAR, the Russian Agency for Export Credit and Investment Insurance, as part of its product "Insurance of working capital loans of exporters'. In the implementation of the project in Belarus will participate the Russian exporters "Metpromstroy" and Metpromtekh. However, the press release does not disclose their exact functions and role.
The decision of Eximbank of Russia to provide financing concerning the mentioned deal was taken as part of Russia's state programme for support of high-tech exports.
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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