Enabling the implementation of the government programme Advancing Industry and Enhancing its Competitiveness. Subsidised interest payments will allow an increase in the industrial output by 500 million roubles by2016, thereby reducing the share of imports
Reference
The document has been drafted by the Russian Ministry of Industry and Trade to enable the implementation of the government programme Advancing Industry and Enhancing its Competitiveness.
The 2014-2016 federal budget provides for the annual disbursement of 250 million roubles in subsidies to timber companies to cover part of their expenses on comprehensive investment projects aimed at modernising existing product lines and creating new product lines involving industrial biotechnology.
The Rules lay down a procedure for granting such subsidies, along with action mechanisms (including terms and conditions, sequencing and schedules) by interested textile and light-industry companies, as well as by the Ministry of industry and Trade, with regard to the submission of subsidy requests, the signing of appropriate agreements and the release of subsidies. According to Ministry estimates, subsidised interest payments will allow for an increase in industrial output by 500 million roubles by 2016, thereby reducing the share of imports.