ANNOUNCED AS TEMPORARYNo
Interest payment subsidy
On January 16, 2013, the Russian Government (Decree 2) approved the rules for the provision of a subsidy to enterprises operating in the timber industry. The purpose of the subsidy is to compensate the enterprises for part of the interest payments on investment loans obtained in the period 2012-2013 for the modernisation of their wood processing capacity. This federal level state aid measure is planned to exist at least for the period 2013-2015.
Natalia Pinyagina, director in one of the biggest Russian timber enterprises, Arhangelski CBK , commented that this state measure will have a positive effect on Russian timber enterprises given that they will receive beneficial financial conditions with Russian and foreign banks.
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