The new version of rules support the automotive industry compensates a part of expenses on loans

MOSCOW, December 22. The Russian government has approved new edition of rules of granting from the Federal budget of subsidies to Russian organisations of motor industry on the reimbursement of expenses for paying interests on loans, received to implement investment and innovation projects. The corresponding decree was published on the website of the Cabinet.

In particular, the document provides for reimbursement for a part of expenses for payment of percent on loans of over 30 billion rubles received in 2015 for refinancing of earlier loans and borrowings.

“The Russian automotive industry belongs to investment active sectors, – stated in the materials by the government. The total investment of the car manufacturers and the automotive component manufacturers only in accordance with the requirements of agreements on “industrial Assembly” is more than 300 billion roubles, including 150 billion rubles for long-term investment loans and borrowings, the timing of which are determined by the payback period of the projects and range from 5 to 10 years.”

By the end of 2015 state support in the form of subsidizing the maintenance costs of the investment credits received 48 organizations in the automotive industry, including 19 of the 29 automakers and auto component manufacturers.

Subsidizing of part of expenses on investment loans will enable to continue implementation of investment projects in the automotive industry and production of automotive components related to the modernization of production and import substitution, according to the government.