The Prime Minister of Russia Dmitry Medvedev signed a decree on allocating 21 billion rubles in subsidies to United Engine Corporation (UEC, part of Rostec Corporation), press-service of the Cabinet of Ministers reportd.

"The signed decree approves allocating the subsidy from the federal budget in the form of asset contribution to the Rostec State Corporation (responsible for supporting development, production and exports of high-tech products) to make further capital contribution to United Engine Corporation (UEC) in order to assure repayment of credits and loans granted to its subsidiaries by Vnesheconombank in the network of “Aircraft Engine-Building” sub-program of “Development of Aircraft Industry for 2013-2025 period” state program," said in the explanatory notes to the decree.

It is also noted that “the 21 billion subsidy is intended for repayment of credits granted by Russian banks to Chernyshev Moscow Machine-Building Enterprise, Kuznetsov Company and NPO Saturn. According to regulations, the list of credits and loans reapid using the subsidy is approved by Russian Ministry of Industry and Trade”.

«The decisions made are aimed at assuring implementation of a program for delivery of products for strategic aviation (supplier – Kuznetsov Company), MiG aircraft (supplier - Chernyshev Moscow Machine-Building Enterprise) and starting production of gas-turbine engines in the network of import substitution in the segment of marine engines (NPO Saturn),” explained in the notes.