Source Pravda.Ru

Italian firms working on Russian market can count on investment loans

Starting with the next year, Italian firms willing to operate on the Russian market can count on loans amounting up to 1.5 billion euros, according to the Italian Foreign Trade Ministry press-release issued on Friday.

The press-release stresses that the corresponding agreement which will come into force already next January was made possible due to an agreement between the Simest concern, providing investment for the Italian firms functioning abroad, and Mediabank, and Vneshtorgbank.

To receive a loan, a project should be estimated at 30 million euros at least, be a joint venture and guarantee production with high surplus value.

According to the agreement, after the Italian Mediabank and the Russian Vneshtorgbank approve the chosen projects they should secure a guarantee of SACE, the company insuring investment loans, and the participation of Simest in the capital, funding, and benefits on interest.

While commenting on the agreement, Adolfo Urso, Deputy Minister for Productive Activities, called it "strategic and crucial," stressing that time had come for Italian firms to launch a new stage of co-operation with Russia - investment in production, while Italian exports to this country had grown by 40% on average.

The discovery of the submarine has unveiled a few "inconsistencies." For example, how can one explain the fact that the sub was found where it needed to be searched for from the start?

Argentina hides the truth about the death of San Juan submarine
Comments
Putin and Erdogan launch first section of TurkStream pipeline in Istanbul
Why Trump tries to re-industrialize America
Why Trump tries to re-industrialize America
Unemployment in Russia hits record high of 15 percent
Kuril Islands dispute between Russia and Japan: The impossible is impossible
Russia to ban capture of killer whales and belugas in 2019
North Korea destroys security points in demilitarised zone
Russia to ban capture of killer whales and belugas in 2019
Third Rome and geopolitics of Orthodox schism
Five years after Maidan revolution, Ukraine remains one of Europe's most corrupt states
The Amazon and the New Conquistadores
Brexit: The UK's misunderstanding of Democracy
The Amazon and the New Conquistadores
The Amazon and the New Conquistadores
Kuril Islands dispute between Russia and Japan: The impossible is impossible
Kuril Islands dispute between Russia and Japan: The impossible is impossible
Kuril Islands dispute between Russia and Japan: The impossible is impossible
Russia to raise sunken floating dock
Unemployment in Russia hits record high of 15 percent
Third Rome and geopolitics of Orthodox schism
Brexit: The UK's misunderstanding of Democracy