The limit of the subsidized loan for the GAZ automobile plant has been increased from 10 billion to 20 billion rubles. The corresponding order was signed by Russian Prime Minister Mikhail Mishustin.

The government website reports that “we are talking about a loan at a rate of up to 11% per annum, which is available under a new preferential credit program for backbone organizations of industry and trade.”

“According to the terms of the program, one enterprise can receive as a loan up to 10 billion rubles, and a group of companies – up to 30 billion,” the report says.

The Russian government launched a special credit program to support backbone organizations of industry and trade, which found themselves in a difficult situation due to sanctions, in March 2022. It is part of a set of measures to ensure the sustainability of the Russian economy.