GOVERNMENT GUARANTEES OF THE REPUBLIC OF DAGESTAN
| Region | Republic of Dagestan |
|---|---|
Type of support | Government guarantees of the RF region |
Type of investment activity | Implementation of priority investment projects inside the region Procedure and conditions of giving priority status to projects are specified in the Decree No.33 of the President of the Republic of Dagestan "On Approval of Regulation on the Procedure and Conditions of Giving Priority Status to Investment Project of the Republic of Dagestan" of 18.02.2009 |
Conditions for granting | Government guarantees are provided to investor as full or partial security of debt repayment for funds raised for implementing priority investment projects. A term of government guarantee for implementing priority investment project cannot exceed five years. The amount and terms of payment for the provision of government guarantee of the RF region are defined by the Government of the Republic of Dagestan (not higher than 5 percent a year of the amount of guarantee received). The recipient of the government guarantee of the RF region should provide security to the amount of 100 percent of the amount of government guarantee as a pledge of liquid assets or collateral sub-guarantee of the Administration of municipal or urban district, where the investment project is implemented. A share of debt funds raised by the investor for the government guarantee must not exceed 50 percent of the total funding of the priority investment project. |
Procedure for granting | |
Laws and regulations | Law No.42 of the Republic of Dagestan "On Government Support of Investment Activity in the Republic of Dagestan" of 07.10.2008 Law No.9 of the Republic of Dagestan "On Government Guarantees of the Republic of Dagestan" of 11.03.2009 Resolution No. 146 of the Government of the Republic of Dagestan "On Government Guarantee Commission for the Republic of Dagestan" of 21.05.2009 |