ANNOUNCEMENT 03 Jan 2014

In January 2014, the government of the Russian Federation announced a program of subsidized loans to select investment projects. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Government of the Russian Federation. Decree N 3 dated 3/01/2014, Об утверждении Правил предоставления субсидий из федерального бюджета на компенсацию части затрат на уплату процентов по кредитам, полученным в российских кредитных организациях в 2014–2016 годах на реализацию новых комплексных инвестиционных проектов по приоритетным направлениям гражданской промышленности в рамках подпрограммы “Обеспечение реализации государственной программы” государственной программы Российской Федерации “Развитие промышленности и повышение её конкурентоспособности" (On approval of the Rules for granting subsidies from the federal budget to compensate for part of the cost of interest on loans received from Russian credit organizations in 2014-2016 for the implementation of new comprehensive investment projects in priority areas of the civil industry under the subprogram “Ensuring the implementation of the state program” of the state program Russian Federation “Development of industry and increasing its competitiveness), http://government.ru/docs/9630

2018 Update: Decree N418 dated 6.04.2018, О внесении изменений в постановление Правительства
Российской Федерации от 3 января 2014 г. № 3 (On Amending the Government Decree
Russian Federation dated January 3, 2014 No. 3), http://government.ru/docs/32282/

Inception date: 03 Jan 2014 | Removal date: open ended
Still in force

Interest payment subsidy

On January 3, 2014, the Government of the Russian Federation approved Resolution No. 3. The resolution establishes the rules for the allocation of state subsidies covering up to 70% of interest payments on loans taken out between 2014-2016 from a Russian financial institution. Eligible project should be within the priorities of the State Industrial Development Program and approved by the Ministry of Industry as fulfilling innovativeness, job creation and competitiveness criteria.
 
For 2014-2015, the total budget of this scheme amounts to RUB 2 billion (ca. USD 60.26million).
 
The resolution purpose is to raise the competitiveness of the local economy. The effectiveness of the state support will be monitored through competitiveness-related indicators: volume of production in basis year prices (when the subsidy is disbursed) and investments made in basis year prices.

In 2018, the Government extended the program to retroactively cover 2017-2019 

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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