ANNOUNCED AS TEMPORARYNo
The government of Russia specified the sectors eligible for a new industrial policy vehicle in early 2016.
On 3 March 2016 the Advisory Council of the Fund for Industrial Development (FID) adopted a new program "Projects for development" for support of selected manufacturing sectors of the Russian economy. The eligible sectors are:
Under the new programme, FID provides credits for co-financing of project costs. The credits' amount is between 50 and 300 million RUB (ca. between 0.71 and 43 million USD).
The purpose of this state initiative is to create conditions for the manufacturing of competitive, import-substituting hi-tech produts.
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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