The Government of the Russian Federation has approved a new measure of support for domestic manufacturers of components for cars and agricultural machinery. The corresponding resolution was signed by Prime Minister Mikhail Mishustin.
We are talking about subsidizing loans that investors receive from the Industrial Development Fund for the development and creation of components and assemblies for cars and agricultural machinery. If the projects to replace imported parts are successfully implemented, the state will fully reimburse investors for the amount of the loan taken starting from 2024. Thus, they will pay the fund only the loan interest rate of 1% per annum.
Subsidies are provided within the framework of the state program "Development of industry and increasing its competitiveness". The recipients will be selected on a competitive basis by the Ministry of Industry and Trade.
