Programme of state support to construction of fishing ships extended by RF Government through 2019

RF Government Decree dated 28 April 2018 (No 520) extends the Rules on providing subsidies to Russian transport and shipping companies for partial covering of interest rates on loans obtained from Russian credit institutions for the purchase of fishing ships. The programme is extended for 2018 - 2019.

The document was submitted by RF Ministry of Industry and Trade.

The mechanism of providing subsidies to cover part of interest rates on loans obtained from Russian banks for the purchase of civil ships as well as to cover part of lease payments under leasing agreements signed with Russian companies for the purchase of civil ships was in operation since 2009 and expired in 2017.

The newly signed Decree extends this mechanism for 2018 - 2019.

Allocations of the federal budget to provide subsidies for partial covering of interest rates on loans obtained from Russian banks in 2008 - 2019 for the purchase of civil ships  total RUB 1.977 billion; for covering of lease payments under leasing agreements signed with Russian companies in 2008 - 2019 for the purchase of civil ships – RUB 5.4 billion.

The decision is aimed to support and develop shipbuilding industry as well as to encourage Russian customers to invest their own resources in construction of ships.

The document in Russia is available here >>>>