ANNOUNCED AS TEMPORARYNo
Interest payment subsidy
The Council of Ministers of the Republic of Belarus (according to Decree 468 of June 7, 2013) has introduced beneficial state support to Loevskij kombinat stoitelnyh materialov, a state-owned company that manufactures bricks, tiles and other construction products in baked clay. In particular, the interest payments of its investment loan (provided by Belagroprombank) will be partially reimbursed from the 2013 republican budget. The reference rate for the reimbursement is calculated as 50 per cent of the refinancing rate of the National Bank of Belarus on the respective due dates of interest payments.
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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