ANNOUNCED AS TEMPORARYNo
Interest payment subsidy
On January 3, 2014, the Government of the Russian Federation approved Resolution No. 3. The resolution establishes the rules for the allocation of state subsidies covering up to 70% of interest payments on loans taken out between 2014-2016 from a Russian financial institution. Eligible project should be within the priorities of the State Industrial Development Program and approved by the Ministry of Industry as fulfilling innovativeness, job creation and competitiveness criteria.
For 2014-2015, the total budget of this scheme amounts to RUB 2 billion (ca. USD 60.26million).
The resolution purpose is to raise the competitiveness of the local economy. The effectiveness of the state support will be monitored through competitiveness-related indicators: volume of production in basis year prices (when the subsidy is disbursed) and investments made in basis year prices.
In 2018, the Government extended the program to retroactively cover 2017-2019
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