Russia promises state aid for crisis-hit companies
The Russian government will offer credit to companies in the agriculture, defence, energy, construction and automotive industries hit by the financial crisis, the Kremlin said on Saturday.
By Agencies |
MOSCOW: The Russian government will offer credit to companies in the agriculture, defence, energy, construction and automotive industries hit by the financial crisis, the Kremlin said on Saturday.
The government will also expand a credit programme for small businesses from 341 million to 1.1 billion dollars (253 to 817 million euros), Russian news agencies reported, citing an official from the Kremlin's press office.
Property developers will receive credit through state banks to build more houses, while energy companies will get state help in paying back external loans and their existing credit will be refinanced, the reports said.
Under the measures, which were agreed at a government meeting on Thursday, state banks will also give additional credit for agricultural projects and the defence industry will get extra state credit guarantees. The reports did not give any figures on the extent of financing.
The government will also expand a credit programme for small businesses from 341 million to 1.1 billion dollars (253 to 817 million euros), Russian news agencies reported, citing an official from the Kremlin's press office.
Property developers will receive credit through state banks to build more houses, while energy companies will get state help in paying back external loans and their existing credit will be refinanced, the reports said.
Under the measures, which were agreed at a government meeting on Thursday, state banks will also give additional credit for agricultural projects and the defence industry will get extra state credit guarantees. The reports did not give any figures on the extent of financing.
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