ANNOUNCEMENT 10 Feb 2014In February 2014, the government of the Russian Federation announced a change to private-sector financial support.
NUMBER OF INTERVENTIONS
10 2014 91
Decree Nr. 91 of 10 February 2014 stipulates that Russian chemical companies that create new product lines involving industrial biotechnology (in particular biopolymers and biopolymer-based products) are eligible for federal subsidies. The scheme started on 14 January 2014 and compensates participating companies for their interest rate expenditures.
Among the selection criteria for the biotechnology investment projects is their ability to increase the share of local production on the internal market by at least 3%. The new subsidisation scheme targets a decrease of the proportion of the biotechnology-based imports by 4 per cent in 2016.