ANNOUNCEMENT 15 Sep 2009

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

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Government Decree # 1346-p dated 15 September 2009


Inception date: 15 Sep 2009 | Removal date: open ended
Still in force

Capital injection and equity stakes (including bailouts)

Russian Prime Minister Vladimir Putin has signed a ruling (the Government Decree # 1346-p from 15 September 2009) to inject 4.4 billion rubles into the charter capital of machine building plant "Uralvagonzavod" (http://uvz.ru/rus/index_1024.htm). Currently, the plant produces more than 100 types of civilian and military goods: defence machinery, tanks, rockets, wagons, cisterns,road-building machines and others. The plant was built in 1936 and was one of the first ones in the Russian industrialization process. Nowadays the company requires the funds to implement its financial bailout program and improve its operations.

The industry is one of the strategic ones 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).

AFFECTED SECTORS