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Russian PM signs order to set up Agency for Loan Guarantees

May 06, 2014, 7:40 UTC+3 MOSCOW
Its authorized capital totals 50 billion rubles ($1.4 billion)
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MOSCOW, May 06 /ITAR-TASS/. Russian Prime Minister Dmitry Medvedev has signed an order to establish an open joint-stock company “Non-bank depositary credit organization Agency for Loan Guarantees”, the government reported on its website Tuesday.

In line with the document, the new agency aims to render guarantee support to small and midsized businesses. Its authorized capital totals 50 billion rubles ($1.4 billion).

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