ANNOUNCEMENT 29 Aug 2020

On 29 August 2020, the Russian prime-minister allocated an additional USD 16 million to support the tourism industry struck by the Coronavirus-related slowdown. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 29 Aug 2020 | Removal date: open ended

Financial grant

On 29 August 2020, the Russian prime-minister allocated an additional 1.2 billion rubles (USD 16 million) to support the tourism industry struck by the Coronavirus-related slowdown. The money is allocated from the Reserve Fund of the State Budget, which is normally used to finance emergency measures. 

The amount is to be allocated as subsidies among 400 firms and individuals active in the tourism sector, to finance tourism development initiatives. The examples of qualifying activities, according to the government, are infrastructure for the handicapped persons, mobile guides, modular (prefabricated) hotels, IT equipment and new routes. 

The subsidy is allocated under the State Program 'Economic Development and Innovative Development' and under the subsidy line formalized in December 2019 in the Rules for the allocation of federal subsidies to support non-profit and entrepreneurial initiatives for the development of the domestic and foreign tourism. 

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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