ANNOUNCEMENT 28 Jan 2015

The Ministry of Industry and Trade of the Russian Federation announced state subsidies to 12 Russian manufacturers of wheeled vehicles for paying interest on loans and income on obligations.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Ministry of Industry and Trade (2015). ПРИКАЗ МИНИСТЕРСТВА ПРОМЫШЛЕННОСТИ И ТОРГОВЛИ РОССИЙСКОЙ ФЕДЕРАЦИИ ОТ 28 ЯНВАРЯ 2015 Г. N 116 "О ПРЕДОСТАВЛЕНИИ ИЗ ФЕДЕРАЛЬНОГО БЮДЖЕТА СУБСИДИЙ РОССИЙСКИМОРГАНИЗАЦИЯМ АВТОМОБИЛЕСТРОЕНИЯ, В ТОМ ЧИСЛЕ ИХ ДОЧЕРНИМ ОРГАНИЗАЦИЯМ,НА ВОЗМЕЩЕНИЕ ЧАСТИ ЗАТРАТ НА УПЛАТУ ПРОЦЕНТОВ ПО КРЕДИТАМ, ПОЛУЧЕННЫМНА РЕАЛИЗАЦИЮ ИНВЕСТИЦИОННЫХ И ИННОВАЦИОННЫХ ПРОЕКТОВ И (ИЛИ) ВЫПЛАТУКУПОННОГО ДОХОДА ПО ОБЛИГАЦИЯМ, ВЫПУЩЕННЫМ ДЛЯ ОСУЩЕСТВЛЕНИЯ РАСХОДОВИНВЕСТИЦИОННОГО ХАРАКТЕРА, А ТАКЖЕ НА ВОЗМЕЩЕНИЕ ЧАСТИ ЗАТРАТ НА УПЛАТУПРОЦЕНТОВ ПО КРЕДИТАМ, ПРИВЛЕЧЕННЫМ В 2009–2010 ГОДАХ И ОБЕСПЕЧЕННЫМГОСУДАРСТВЕННЫМИ ГАРАНТИЯМИ РОССИЙСКОЙ ФЕДЕРАЦИИ". (Decree of the Ministry of Industry and Trade of the Russian Federation of January 28, 2015 No. 116 "On the provision from the federal budget of subsidies to Russian manufacturers of wheeled vehicles and their subsidiaries for partial reimbursement for paying interest on loans received for the investment and innovation project implementation and/or for paying coupon income on bonds, issued for investment spending, and also for the partial cost reimbursement for paying interest on loans received in 2009-2010 that are covered by the state guarantees of the Russian Federation"). Available at http://minpromtorg.gov.ru/docs/#!38985

Inception date: 28 Jan 2015 | Removal date: open ended
Still in force

Interest payment subsidy

According to the Ministerial Decree No. 116 dated 28th of January, 2015, state subsidies were granted to 12 Russian manufacturers of wheeled vehicles in the total amount of 1.65 billion RUB (24.3 million USD). 

The subsidies were granted to compensate the losses of Russian manufacturers of vehicles associated with payments on coupon income on bonds issued for investment spending and with interest payments on loans that are covered by the state guarantees of the Russian Federation and/or used for the investment and innovation project implementation. 

The subsidies were granted under the framework depicted by the Resolution of the Government of the Russian Federation No. 640 dated August 1st 2011 and by the Decree of the Ministry of Industry and Trade No. 1187 dated September 1st 2011. 

AFFECTED SECTORS