ANNOUNCEMENT 03 Dec 2013In December 2013, the government of the Russian Federation announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
2013 , -
On December 3, 2013, the Government of the Russian Federation approved (according to Directive No. 2252-) the issuance of a state guarantee at the amount of RUB 1.21billion on loans extended to Joint Stock Company «United Aircraft Corporation».
This state measure forms part of the state Armament Programme 2011-2020 and has the goal to expand the defence enterprise's capacity to attract non-budgetary sources of funding (loans) and carry out state tasks related to the execution of the state defence order 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.