US calls for release of detained participants in unsanctioned rallies across RussiaWorld March 27, 6:37
Russia conducts six humanitarian operations in Syria in 24 hoursSociety & Culture March 27, 6:34
Talks on banning nuclear weapons begin in UN without Russia, USWorld March 27, 6:28
Meeting with Putin of exceptional importance for Serbia — premierWorld March 27, 4:16
Election in Moldova shows people support rapprochement with Russia - Socialist factionWorld March 27, 4:06
Former Zenit FC player Kazachenok dies at 64Sport March 27, 1:37
Russian senior MP calls on EU politicians not to hide heads in sand in Syrian settlementRussian Politics & Diplomacy March 26, 18:09
Three Russian fans stabbed after football match in BelgradeSport March 26, 3:28
Russia ready to take part in restoring oil production in Syria - energy ministerBusiness & Economy March 26, 3:27
MOSCOW, January 28. /TASS/. The Russian government is intending to support domestic companies implementing import substitution projects through partial subsidizing interest rates under loans borrowed in Russian banks. This is provided in the 2015 anti-crisis plan of the government. Budget allocations are estimated at 20 billion rubles ($0.3 billion), net of defense sector companies.
According to the document, this measure will cover funds borrowed by companies in Russian lending institutions. The Ministry of Industry has developed the subsidizing mechanism in cooperation with the Economic Development and Finance Ministries.
Furthermore, development of a mechanism for compensation of expenses related to currency rate fluctuations is proposed to stabilize financial and business operations of defense sector companies. No funding scope has been indicated so far for this measure.
The Russian government was cited earlier as estimating the 2015 anti-crisis program at 1.172 trillion rubles ($18 billion). The Industry Development Fund that is to give loans to Russian companies at the annual preferential rate of 5-6% will be another tool to support the Russian industry. The Minister of Industry and Trade Denis Manturov said at the turn of 2014 that 20 billion rubles ($0.3 billion) were already transferred to the fund.