A total of $3.5 billion will be spent in support of the export of Russian products, while the state Development Bank will begin to work in the second half of the year.

“A total of $3.5 billion from the budget will be spent to support export activity,” Russian Deputy Prime Minister Sergei Naryshkin said at a meeting with Russian President Vladimir Putin on Wednesday.

“Half of the money will spent at the production and delivery of industrial goods and military and technical products on account of the debt of former Soviet republics.”

“Some of the assets will be spent as tied loans and state guarantees for the implantation of major projects of Russian companies, primarily in the energy area and primarily in China and India,” the deputy prime minister said.

“About $1 billion will be state guarantees for the implementation of investment projects of Russian companies in foreign countries,” he said.

Popularity: 1% [?]