OREANDA-NEWS. February 17, 2009. “On Extending State Guarantees of the Russian Federation in the Year 2009 on Credits to be Raised by Organizations Selected under the Procedure Established by the Government of the Russian Federation for Core Production Activities and Capital Investment”

The Government of the Russian Federation shall resolve that:

1. The attached Rules  for Extending State Guarantees in the Year 2009 on Credits to be Raised by Organizations Selected under the Procedure Established by the Government of the Russian Federation for Core Production Activities and Capital Investment shall be approved.

2. Subject to part 5 of Article 16 of the Federal Law “On Federal Budget for 2009 and for a Planned Period of 2010 and 2011”, the Finance Ministry of the Russian Federation shall be entitled within the limits of amounts set forth by the Program of State Guarantees of the Russian Federation in the currency of the Russian Federation for 2009 and a planned period of 2010 and 2011 and pursuant to the Rules approved by this Resolution to extend in the year 2009 state guarantees of the Russian Federation in the currency of the Russian Federation on credits to be raised by organizations selected under the procedure established by the Government of the Russian Federation for core production activities and capital investment in the amount not exceeding 10 billion rubles per each state guarantee of the Russian Federation. 

3. The Finance Ministry of the Russian Federation upon working out a draft Federal Law on the federal budget for the next year and a planned period shall allow for funds for fulfilling obligations on state guarantees of the Russian Federation extended on credits to be raised by organizations selected under the Procedure established by the Government of the Russian Federation for core production activities and capital investment.

4. Vnesheconombank shall be charged with acting in the year 2009 as an agent for the Government of the Russian Federation in extending and executing state guarantees of the Russian Federation on credits to be raised by organizations selected under the Procedure established by the Government of the Russian Federation for core production activities and capital investment, and in keeping analytical accounting records on the said state guarantees, these organizations’ obligations, their underwriters (guarantors), and other persons in connection with extending and executing such state guarantees, as well as in recovering debts of the said persons in a judicial procedure.