MOSCOW, August 18, 8:54 /ITAR-TASS/. Russia's Head of Government Dmitry Medvedev has signed a directive about providing state guarantees for the Oboronprom United Industrial Corporation for it to finance work to develop advanced engines for civil aviation. The document has been placed on the government's website on Monday.
The directive reads as follows: "The programme for state guarantees for 2014 and for the plan period of 2015 and 2016 envisages giving the above guarantees to Oboronprom to a sum of 3.3 billion roubles on the strength of a bond loan drawn by the Corporation to finance work to develop advanced engines of PD-14 and PD-10 type for new-generation passenger airliners".
The document emphasizes that State support will enable the Oboronprom to attract resources for investing money in projects to develop advanced engines and prepare them in time for the conduct of a programme of flying tests by means of an experimental specimen of MS-21 new trunk route airliner.
The term for retirement of bonds, on the strength of which state guarantees are given in 2014, is from ten to fifteen years.