ANNOUNCEMENT 01 Jun 2009

In June 2009, the government of Russia announced a change in private-sector financial support.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



the Government Decree # 745-p from 1 June 2009


Inception date: 01 Jun 2009 | Removal date: open ended
Still in force

Capital injection and equity stakes (including bailouts)

Russian Prime Minister Vladimir Putin signed a ruling (the Government Decree # 745-p from 1 June 2009) to inject 25 billion rubles (560 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 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.

AFFECTED SECTORS