Source Pravda.Ru

Deliverance of Oil Dependence

In order to soften overdependence on natural resource exports and avoid another financial crisis, it was approved a plan on Thursday to provide nearly $1 billion in financing and other kinds of support for exporting manufacturers.

Roseximbank will become the state's export bank and and Roseximgarant - export insurance agency.

Under the plan, Roseximbank could get a $50 million boost in capital through a new share issue, approved by the government this summer.

The plan also foresees capitalizing Roseximgarant with up to 51 billion rubles ($1.7 billion). ©

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