ANNOUNCEMENT 12 Sep 2013In September 2013, the government of the Russian Federation announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
2013 , ? ?
12 2013 798
With Decree Nr 798 of 12 September2013, the Russian Government approved the issuance in 2013 of a state guarantee at the amount of 1 billion USD. Its purpose is to secure the full repayment of the loan that the company has drawn from the Russian bank "Vneshekonombank" in order to finance the production of airplanes with the trade mark "Sukhoi Superjet 100". In the accompanying the legal act explanatory note the issuance of the state guarantees is motivated as follows: " to ensure the possibility for a stable financing of a serial production programme of airplanes "Sukhoi Superjet 100" under contracts with Russian and foreign contractors and to create favourable conditions for the promotion of these airplanes on the aviationmarkets".
In this case although the conditions for the issuance of the state guarantee are accorded before 12 September 2013, it will be activated after 1 January 2015, when the loan's principle repayment starts. However, information with regard to the exact maturity date of the state guarantee is not available.