State guarantees for project financing in 2016 will increase to 60 billion rubles.

Moscow. November 17. The economic development Ministry and the Finance Ministry have agreed to amend the second reading of the draft Federal budget for 2016 amendments that increase the volume of state guarantees on loans next year under the program of project financing c 37,5 billion rubles to 60 billion rubles, said Minister of economic development Alexei Ulyukayev reporters on Tuesday in Manila.

Initially in the draft budget for 2016 was laid only 37.5 billion rubles of state guarantees against 60 billion in 2015. “We have proposed to increase the amount of state guarantees for next year. This will be amendments to the second reading of the budget. Proposed to increase to 60 billion rubles in the current year”, – said the Minister.

Commenting on the question whether there is an agreement on this subject with the Finance Ministry, economic development Minister Alexei Ulyukayev said: “we have agreed”.

State guarantees on 60 billion roubles, proceeding from the incorporated in the program ratio (1 to 4) correspond to potential project funding in 240 billion roubles in guarantees to 37.5 billion rubles were given the opportunity to lend 150 billion.

Last week the head of the CBR Elvira Nabiullina has informed that the limit for project financing of 100 billion rubles is now actually selected for 43.7 billion rubles. The government expects that the Central Bank decides to increase the programme once it is selected 75 billion.

But now commenced another limitation – it is over the limit of state guarantees allocated in the budget for 2015.

Deputy Minister of economic development Nikolay Podguzov at the end of October reported that the interdepartmental Commission at the Ministry of economic development on the selection of investment projects in the framework of project financing will take a break in its work until the end of the current year, as has already selected most of the volume of guarantees allocated in the budget for 2015.

“As part of the 2015 budget volume of the state guarantees under the program is 60 billion rubles To date, MVK has taken decision on approval of 42 projects, the amount of guarantee support which is 58.9 billion rubles. Thus, as part of budget 2015, the limit for government guarantees under the program is nearly full. So by the end of the year, the ERM will take a break in its work on the selection of projects”, – said the Deputy Minister.

According to him, the selection of the projects IDC will resume next year in the framework of the limit state guarantees of 2016.

Currently to participate in the program of project financing selected 42 projects for a total value 347,1 billion. The amount of the requested loan resources – 235,5 billion (state guarantees are laid in a ratio of 1 to 4, the maximum size of loans may be 240 billion rubles in 2015).