Largest corporations receive trillions in anticrisis financial aid

Author: Olga Vasilyeva Section: Major Events of the Month

Issue: April 2009, Vol.4, No. 3

Tags: Financial crisis

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Multitrillion-Ruble Support

The total volume of funding, which banks has provided for companies included in the special list of corporations, referred to as corporate systemic entities, has exceeded 2trln.rubs, according to First Deputy PM Igor Shuvalov. “This refers to the loans granted by Sberbank, VTB and VEB.” 

Generally, there are about 300 of these ‘systemic corporate entities’ compiled by the State Commission on Increasing the Stability of the Russian Economy.  “The situations in companies that have applied to the government for aid have significantly improved, from the point of view of social and requalification programs, amongst others.”