Funding could be forthcoming for development of Tu-214 from Tatarstan bank

Published: 11/2/1999

The Tatarstan Republic has announced details of discussions relating to a loan of $20 million for KAPO, to provide further funding for the development of the Tu-214 and the completion of 2 aircraft. The loan is to be provided by the state owned savings bank Tatarstan Sberbank. At a press conference of 26 October 1999, the Tatarstan Finance Minister, Robert Musin reported that the government would fund the interest payments for the loan from the republic's budget. The government is also considering a leasing structure for aircraft sales. According to KAPO, Sibir have shown interest in three Tu-214s and a potential scheme for financing then is now being discussed between Tatarstan and administrations of Novosibirsk and Perm regions, with the latter looking for Federal support by bringing the subject up for discussion at the Federation Council, Russia's regional assembly.

Article ID: 1032