ANNOUNCEMENT 31 Mar 2014

In March 2014, the government of Belarus announced a change in private-sector financial support.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 31 Mar 2014 | Removal date: open ended
Still in force

Interest payment subsidy

With Decree 290 of 31 March 2014, the Council of Ministers of Belarus approved the partial reimbursement of interest rate payments of a loan extended in 2012 to the Republican Association 'Belagroservis' at the amount of 550 billion Roubles (USD 55 million). RA 'Belagroservice' is a cooperative of agricultural producers of the Republic of Belarus and coordinates the activity of the regional enterprises, such as 'Brestoblagroservice', 'Vitebsk Oblagroservice', 'Gomeloblagroservice', 'Oblselhoztechnika', 'Minskoblagroservice', 'Agromashservice' in Mogilev, as well as of organisations, which perform agricultural maintenance works.
The purpose of the loan is acquisition of equipment for milk farms and forms part of the implementation measures of the Republican Programme for the development of the milk sector in 2010-2015.
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

AFFECTED SECTORS