The government guarantee for the amount of 294bn RUR was granted to the specialized Project Finance Facility (Fabrica Proektnogo Finansirovaniya, FPF) by the order of the Government of the Russian Federation dated August 7, 2018 No. 1647-r. The state guarantee for the period until December 31, 2040 is designed to ensure the execution of up to 100% of the obligations of the FPF for planned bonded loans.
The funds attracted through the bonds will be used to provide part of the syndicated loan to finance investment projects specially selected by Vnesheconombank, but not more than 40% of the loan cost. The remaining funds for the implementation of projects will be extrabudgetary. The procedure and conditions for granting to the FPF in 2018 a state guarantee in RUR for bonded loans were approved by the resolution of the Government of the Russian Federation of June 6, 2018, No. 654. The FPF Program goals, approved by Government Decree No. 158 of February 15, 2018, is to create mechanism of project financing of investment projects.
