07.10.2020
Sberbank has opened a credit line for the Ulyanovsk Automobile Plant (part of the SOLLERS Group) of RUB 4 billion to finance the advance delivery of UAZ vehicles to state-owned companies and federal bodies of executive authority.
The loan falls within the framework of the programme of state support for car manufacturers approved by Decree of the Government of the Russian Federation No. 1035 of 11 July 2020.
“The government and the Ministry of Industry and Trade of the Russian Federation continue to provide strong support for Russian car manufacturers, and Sberbank is servicing our requirements related to our participation in State programs. This loan on concessional terms will allow the company to implement advance delivery of UAZ vehicles to federal bodies, state and budgetary institutions and state-owned companies on a deferred-payment basis,” said Nikolay Sobolev, CEO of SOLLERS PJSC.
According to Decree of the Government of the Russian Federation No. 1035, the supply of cars to federal bodies, state and budgetary institutions, and state-owned companies for 2021-2022 has been brought forward to 2020.
“We continue to cooperate effectively with our key partner – SOLLERS Group. As part of the programme of state support for car manufacturers, Sberbank has opened a credit line for the Ulyanovsk Automobile Plant of RUB 4 billion using a concessional financing mechanism. The credit line will remain open until December 2022. The loaned is funded by grants from the Ministry of Industry and Trade provided at a rate of 0% per annum and will be used for purchasing raw materials and components for government procurement,” said Alexey Grenkov, Vice President of Sberbank and Director of the Key Clients Department.
