The April 29, 2022, Order No. 1071-r, signed by Prime Minister Mikhail Mishustin, set in motion a robust package of financial support for the state’s GAZ automobile plant. The program increases the subsidized loan available to the enterprise from 10 billion to 20 billion rubles. This arrangement offers a loan at a rate as low as 11 percent per year, accessible under a newly launched preferential loan program designed to strengthen key players in industry and commerce across the backbone sectors of the economy.
Under the policy framework, a group of associated companies can secure loans totaling up to 30 billion rubles, while individual enterprises may qualify for as much as 10 billion rubles. The government indicated that this funding level alone did not adequately meet the needs of the company, highlighting potential risks to working capital and the company’s ongoing operations if aid were insufficient. The aim was to shore up liquidity, ensure continued production, and safeguard employment by reducing the fiscal pressure on firms facing a harsher sanctions environment.
The source notes that the government introduced a dedicated loan program to assist industry and trade backbone organizations facing strain since sanctions intensified in March 2022. The initiative forms part of a broader set of measures intended to stabilize the Russian economy, maintain supply chains, and preserve critical manufacturing capacity amid ongoing geopolitical and economic challenges.
- In addition, another 3.7 billion rubles will be allocated to regional budgets to bolster local factories and manufacturing hubs.
- An independent assessment of the program and its impact is available through public channels, with official summaries provided by the government and industry observers.