ANNOUNCEMENT 14 Dec 2010In December 2010, the government of the Russian Federation announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
Government Decree # 2252-p from 14 December 2010
The Russian Prime Minister Vladimir Putin signed a ruling (the Government Decree # 2252-p from 14 December 2010) to provide state guarantees to the company'Russian Highways' at the amount of 3 billion rubles (around 25.4 million euros). The webpage of the company is www.russianhighways.ru.
The state company Russian Highways' was created by the federal law 145-21.07.2009 in order to maintain and develop the highways network of Russia, improve road services and infrastructure.
The Russian Federation is the founder of the State company. Acting as a state organization, the state company 'Russian Highways' attracts investments using PPP mechanisms.
In 2011 these guarantees were used to secure the bonds issue planned for the beginning of 2011. Secured bonds will allow their holders to submit claims to the Ministry of Finance of the Russian Federation in case of unexpected difficulties with the redemption of bonds.