Russia increases financial support of AvtoVAZ

Leadership of the State Corporation "Bank for Development and Foreign Economic Affairs (Vnesheconombank)" has decided to provide Russia's largest carmaker group "AvtoVAZ" with funding in the amount of about 30 billion rubles (about $ 750 million dollars). The money will be spent on projects such as the modernization of production, the creation of a new generation of engines that will be delivered to the "AvtoVAZ", as well as projects related to the creation of new models of "AvtoVAZ", Renault and Nissan.