The Russian Government introduced an official order, dated 28 April 2018, which extends 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 vessels.
The decree was firstly published in April 2009, aimed to support and enhance Russian shipbuilding industry, as well as to urge Russian customers to invest in building of ships. The order expired in 2017.
According to a recent announcement by the Russian Ministry of Industry and Trade, the programme is now extended 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 and, for covering of lease payments under leasing agreements signed with Russian companies in 2008 – 2019 for the purchase of civil ships, total RUB 5.4 billion, IAA PortNews reported.
