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. Last Updated: 07/27/2016

Kudrin: State May Buy Mortgages

Finance Minister Alexei Kudrin said the government may buy banks' mortgages and provide 300 billion rubles ($11 billion) to guarantee corporate loans in a bid to boost liquidity.

"We need to provide targeted support," Kudrin said Wednesday at a meeting chaired by President Dmitry Medvedev.

"In order to strengthen guarantees for loans, including loans for two and three years, the state must be ready to provide 300 billion rubles," Kudrin said on Vesti-24. "If necessary, we can increase this limit."

Kudrin said additional measures are being considered to boost funds available as loans to companies.

Thirty billion rubles in loans will be provided to large airlines like Aeroflot and Transaero, First Deputy Prime Minister Igor Shuvalov told the meeting.