OREANDA-NEWS. November 05, 2009. Vladimir Putin has pledged to provide USD 2 bn to save AvtoVAZ. The latter is unable to repay RUB 62 bn to main creditors – state-owned banks and unless the debt is restructured, the company could go bankrupt.

The car maker’s main creditors are Sberbank, VTB and Vnesheconombank’s subsidiaries. On Tuesday evening, Vladimir Putin discussed the company’s fate with government officials and promised RUB 54.8 bn without disclosing the scheme.