ANNOUNCED AS TEMPORARYNo
Interest payment subsidy
On 18 August 2015 the Russian Government approved Order No. 1586. Its purpose is to allocate a state subsidy to the budgets of the constituent entities of the Russian Federation for co-financing the reimbursement of interest on short-term credits (loans) related to agriculture. The allocated state subsidy by Order No. 1586-p amounts to 7 066 300 000 Russian Roubles (approximately 101 966 811 USD).
This measure is part of the state programme titled 'Development of agriculture and regulation of markets of agricultural products, raw materials and food in the period 2013 - 2020' and sub-programme 'Development of wholesale distribution centers and infrastructure of the system of the social nutrition'. The goods specifically mentioned in this sub-programme are cereals and sugar. Therefore, they were used to identify the affected trading partners. although in the title of Order No. 1586-p the animal breeding sector is also mentioned.
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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