Meaning of “state-backed” in the English Dictionary

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"state-backed" in Business English

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GOVERNMENT used to describe an activity or organization that is approved, owned, or controlled by a government:

Under radical new funding plans this state-backed company would receive an extra £2bn of taxpayers' money.
He proposes a state-backed plan to help new teachers pay back student loans.

(Definition of “state-backed” from the Cambridge Business English Dictionary © Cambridge University Press)