ANNOUNCEMENT 03 Jan 2014In January 2014, the government of the Russian Federation announced a change to private-sector financial support.
NUMBER OF INTERVENTIONS
On January 3, 2014, the Government of the Russian Federation approved Resolution No. 4. The resolution establishes the rules for the allocation of state subsidies to Russian enterprises or organisations in the chemical industry. The purpose of the subsidies is to cover interest rate payments on loans taken in 2014-2016 from Russian credit organisations or the state bank Vnesheconom.
The budget for the described scheme in 2014-2016 is RUB 418.71million (ca. USD 12.62million). In the document is stated that the goal of the subsidies is to achieve import substitution in the subsidised sectors.