MOSCOW, December 10 (RIA Novosti) - Russian Prime Minister Vladimir Putin said on Thursday he would sign an order on the allocation of 12 billion rubles for state corporation Rostekhnologii to pay off part of the debts of car maker AvtoVAZ.
Rostekhnologii (Russian Technology Corporation), Renault, and Troika Dialog investment all hold 25% plus one share in struggling AvtoVAZ.
Putin told First Deputy Prime Minister Igor Shuvalov at a meeting of the inner Cabinet that he would sign the order later on Thursday. Shuvalov had suggested that the government allocate the money to Rostekhnologii to allow the corporation to make an interest-free loan to AvtoVAZ.
Putin earlier said that the government would spend 54.8 billion rubles to assist the company, of which 38 billion would be used to pay off its debts.
Deputy Prime Minister Sergei Ivanov said at the meeting that the government would allocate 31.7 billion rubles to help with the United Aircraft Corporation's tax burden. Another 7.7 billion will be allocated in a year's time, he said.
