Russian banks grant $57 bln in loans to core enterprises

GORKI (Moscow Region), March 16 (RIA Novosti) - The Russian state-controlled banks Sberbank, VTB and Vnesheconombank (VEB) have granted over 2 trillion rubles ($57 billion) in loans to core enterprises, First Deputy Prime Minister Igor Shuvalov said on Monday.

Shuvalov also said that the government was paying close attention to measures to support the country's defense and industrial complex.

He said an inter-departmental working group for the defense and industrial complex had examined applications for state support from 81 defense enterprises, and a decision was made to extend loans to 50 of them.

"For 50 enterprises, loans worth over 70 billion rubles [$2 billion] will be extended, and a decision has been made to provide state guarantees worth over 26 billion rubles [$743 million] to eight enterprises," Shuvalov said.

The first vice-premier said that the loans were being extended on tight credit terms and at high interest rate.

The list of core enterprises approved by the government commission for enhancing stability of the Russian economy comprises about 300 organizations.