ANNOUNCEMENT 12 Mar 2016
In March 2016, the government of the Russian Federation announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
The Russian Government (2016). РАСПОРЯЖЕНИЕ ПРАВИТЕЛЬСТВА РФ ОТ 12 МАРТА 2016 Г. N 417-Р "О НАПРАВЛЕНИИ МИНПРОМТОРГУ БЮДЖЕТНЫХ АССИГНОВАНИЙ ДЛЯ ПРЕДОСТАВЛЕНИЯ СУБСИДИИ РОССИЙСКОМУ ФОНДУ ТЕХНОЛОГИЧЕСКОГО РАЗВИТИЯ". (Resolution of the Government of the Russian Federation of March 12, 2016 No. 417-r "On the budget allocations to the Ministry of Industry and Trade to grant a subsidy to the Russian Fund for Technological Development"). Available at http://government.ru/docs/22233/
Government Resolution No. 417-p of 12 March 2016 approved the budgetary allocations to the Ministry of Trade and Finance in the amount of 20 billion RUB (ca. 290 million USD) to provide a subsidy to the Russian Fund for Technological Development (RFTD), also known shortly as the Industrial Development Fund (IDF).
The subsidy provision will allow the Fund to provide loans at beneficial terms to industrial enterprises for projects that target the implementation of the best available technologies and to create more than 10 thousand high-performance workplaces.
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.