ANNOUNCEMENT 23 Aug 2017

The Ministry of Industry and Trade of the Russian Federation announced state subsidies to 16 Russian leasing organisations.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Ministry of Industry and Trade (2017). ПРИКАЗ МИНИСТЕРСТВА ПРОМЫШЛЕННОСТИ И ТОРГОВЛИ РОССИЙСКОЙ ФЕДЕРАЦИИ ОТ 23 АВГУСТА 2017 Г. № 2879 "О ПРЕДОСТАВЛЕНИИ СУБСИДИЙ ИЗ ФЕДЕРАЛЬНОГО БЮДЖЕТА НА ВОЗМЕЩЕНИЕ ПОТЕРЬ В ДОХОДАХ РОССИЙСКИХ ЛИЗИНГОВЫХ ОРГАНИЗАЦИЙ ПРИ ПРЕДОСТАВЛЕНИИ ЛИЗИНГОПОЛУЧАТЕЛЮ СКИДКИ ПО УПЛАТЕ АВАНСОВОГО ПЛАТЕЖА ПО ДОГОВОРАМ ЛИЗИНГА КОЛЕСНЫХТРАНСПОРТНЫХ СРЕДСТВ, ЗАКЛЮЧЕННЫМ В 2017 ГОДУ". (Decree of the Ministry of Industry and Trade of the Russian Federation of 23 August, 2017 No. 2879 "On granting subsidies from the federal budget for reimbursement of income losses of Russian leasing organisations when providing the lessee with a discount for the advance payment under the leasing agreements for wheeled vehicles concluded in 2017".) Available at http://minpromtorg.gov.ru/docs/#!20743

Inception date: 23 Aug 2017 | Removal date: open ended
Still in force

Financial grant

According to the Ministerial Decree No. 2879 dated 23rd of August, 2017, state subsidies were granted to 16 Russian leasing organisations in the total amount of 1.35 billion RUB (22.9 million USD). 

The subsidies were granted for the reimbursement of losses in income of Russian leasing organisations for the transfer of wheeled vehicles under a leasing agreement. Under the leasing agreement, the lessee receives a discount from the Russian leasing organisation for the advance payment for a Russian-manufactured wheeled vehicle. The government grants subsidies to leasing organisations to compensate loses on income from such discount provisions. 

The subsidies were granted under the framework depicted by the Government Resolution No. 451 dated 8th of May, 2015. 

AFFECTED SECTORS