The Russian government has made changes to the "Rules for granting subsidies to the Russian transport companies and shipping companies for reimbursement of some interest payment for loans received from Russian credit organizations and Vnesheconombank in 2008-2011 for the purchase of civilian ships, manufactured at Russian shipyards, and lease payments under lease agreements signed in 2008-2012 with Russian leasing companies to acquire civilian vessels, built at Russian shipyards," the Russian Shipping portal reports.
The updated rules include eased restrictions on terms of credit agreements and subsidies provided under the loan agreements entered into force in 2012.
The shipping companies also will be granted subsidies under the loan agreements for the period of newbuild construction, as well as the provision of a shipbuilding contract to replace a sale agreement.
The text of the Russian Government’s decree (11.12.2012, № 1153) "On Amending Resolution of the Government of the Russian Federation on May 22, 2008 № 383” can be found on the The Russian Shipping" website.
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