Vnesheconombank is offered 10% in recently established joint venture “Sollers-Fiat”, a source in the Russian government informed. “I am convinced that such project cannot be realized without attraction of development institutes to participation”, "Gazeta.Ru" quotes his words.
“The joint venture needs state guarantees and compensation of interest rates under credits which will be attracted, the official predicts. Besides, Fiat and Sollers “have to finish formation of legally significant agreements”.
The prime minister Vladimir Putin said earlier that the state is ready to give 2.1 billion euro to the joint venture in the form of the 15-year-old credit. Thus Sollers asked for additional benefits - subsidizing of a part of the interest rate at the expense of the budget and delay of payment of the basic part of the debt for five years. It is a question of subsidizing of 2/3 rates of refinancing (now it is 8.75 %). They remark in Sollers that these are regular financing conditions of a long-term investment project.
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