ANNOUNCED AS TEMPORARYNo
Interest payment subsidy
On March 12, 2013, the Russian Government approved with Resolution No. 336 the disbursement of subsidies to selected subjects of the Russian Federation (towns, republics and regions). The disbursement amounts to RUB 8.03 billion (USD 258.35 million) and aims to partially compensate the interest payments on loans received by agricultural producers and animal breeders from Russian credit organisations or rural agricultural credit cooperatives (see related GTA measure Nr 4298 below). This state measure is in line with the recent statement of the President of the Russian Federation, Mr Vladimir Putin, that the interests of the sectors, including agriculture, facing the most intensive competition from abroad (after the WTO accession) will be supported.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
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