ANNOUNCEMENT 17 May 2012
In May 2012, the government of Belarus reimbursed interest payments on loans taken out by aquaculture firms.
NUMBER OF INTERVENTIONS
Belorussian Government Decree #453 from 17 May 2012, О возмещении в 2012 году части процентов
за пользование банковскими кредитами (On Reimbursement, in 2012, of Payments on Loan Interest), http://www.government.by/ru/solutions/1832
In 2012 the Belorussian Government (according to Decree #453 of 17 May 2012) will reimburse 50% of the prevailing interest rate (defined to be the refinance rate of the National Bank of Belarus) for the loans which the fishing industry (18 organizations) have to pay back to Belagroprombank and 'Belarusbank'. The reimbursement is financed through the Belarus government budget. The decree is aimed to facilitate the development and modernisation of the fishing industry in Belarus. The modernization programme for the fishing industry was announced on 7 October 2010.
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.