ANNOUNCEMENT 03 Apr 2015

In April 2015, the government of the Russian Federation announced a change in private-sector financial support.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 03 Apr 2015 | Removal date: open ended
Still in force

State loan

On 3 April 2015 the Government of the Russian Federation approved resolution Nr. 319 relating to the state progamme 'Development of the fishery industry'. The resolution allocates funds from the budget of the Russian Federation for the reimbursement of the interest rate costs on loans for the development of aquaculture facilities.
The subsidies target the development of domestic aquaculture for the purpose of import substitution and reduction of the import dependence. Starting from 2015, loan agreemens concluded on or after 1 January 2014for projects designed to develop marketable aquaculture products will receive loan financing as follows:

  • For a period from 1 year to 3 years - for the purchase of fish-breeding material;
  • For up to 10 years - for the construction, reconstruction and (or) modernisation of commodity aquaculture, facilities for the production of fish-breeding material, processing and storage facilities of aquaculture products, as well as the purchase of equipment, specialized vessels, vehicles and equipment for breeding, maintenance and cultivation of marketable aquaculture facilities.

The GTA includes state guarantees and other financial incentives thatare likely to affect the restructuring and performance of firms facinginternational competition, whether from imports, in export markets, andfrom foreign subsidiaries.

AFFECTED SECTORS