IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
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Inception date: 01 Jan 2013 | Removal date: 01 Jan 2014
Still in force

Interest payment subsidy

With Decree 150 of March 6, 2013, the Council of Ministers of Belarus(through Belarusbank) partially compensates interest payments on working captial loans ofBrest Carpets JSC, one of the largest manufacturers of Jacquard woven carpets in Belarus. Specifically, the interest payments of the loans are to be partially reimbursed at 50% of the prevailing interest rate (defined as the refinancing rate of the National Bank of Belarus) on the due date of the respective interest payments. 
 
The main export markets of the carpet manufacturer are Russia, Armenia and Kazakhstan. The state share in carpet enterprise's capital amounts to 99.89 per cent.
 
The decree enters into force on March 6, 2013, but has retrospective legal effect starting from January 1, 2013.
 
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.
 

 
 

AFFECTED COUNTRIES

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