ANNOUNCEMENT 31 Aug 2016
In August 2016, the government of the Russian Federation announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
The Russian Government (2016). ПОСТАНОВЛЕНИЕ ПРАВИТЕЛЬСТВА РФ ОТ 31 АВГУСТА 2016 Г. N 865 "ОБ УТВЕРЖДЕНИИ ПРАВИЛ ПРЕДОСТАВЛЕНИЯ ИЗ ФЕДЕРАЛЬНОГО БЮДЖЕТА СУБСИДИЙ РОССИЙСКИМ ПРОИЗВОДИТЕЛЯМ ГРУЗОВЫХ КОЛЕСНЫХ ТРАНСПОРТНЫХ СРЕДСТВ НА ВОЗМЕЩЕНИЕ ЧАСТИ ЗАТРАТ НА ВЫПЛАТУ КУПОННОГО ДОХОДА ПО ОБЛИГАЦИЯМ РАЗМЕЩЕННЫМ И (ИЛИ) УПЛАТУ ПРОЦЕНТОВ ПО КРЕДИТАМ, ПРИВЛЕЧЕННЫМ НА ЦЕЛИ РАЗВИТИЯ ЗАГОТОВИТЕЛЬНЫХ ПРОИЗВОДСТВ, ОБНОВЛЕНИЯ МОДЕЛЬНОГО РЯДА, МОДЕРНИЗАЦИИ ПРОИЗВОДСТВЕННЫХ МОЩНОСТЕЙ". (Resolution of the Government of the Russian Federation of May 8, 2015 No. 451 "On approval of the subsidies provision rules to Russian manufacturers of wheeled cargo vehicles for partial cost reimbursment for paying coupon bond income and/or for paying interest on loans received for the development of procurement production, updating the model range, upgrading production capacities."). Available at http://government.ru/docs/all/108106/
Decree No. 865 of 31 August 2016 approved the provision of federal subsidies to Russian manufacturers of wheeled cargo vehicles.
The subsidies are provided to compensate for the losses of Russian manufacturers originating from paying coupon income on bonds issued in 2015-2016 and (or) from paying interest on loans received in 2015-2016 from Russian credit institutions and the state corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank) for the purpose of development of procurement production, updating the model range, upgrading production capacities.
The state measure is approved as part of the framework of the sub-program "Automotive industry" of the state program of the Russian Federation "Development of the industry and increasing of its competitiveness".