The Ministry of Industry and Trade of Russia announced the conditions for obtaining subsidies for the implementation of new investment projects. Projects worth up to 7.5 billion rubles will be eligible for interest rate subsidies. Subsidy procedures are being digitized. Relevant amendments have been made to the Decree of the Government of the Russian Federation No. 3 regulating the procedure for subsidizing the interest rate for the implementation of new investment projects.

In particular, the rules for granting subsidies to enterprises for the payment of interest on loans received in 2017 and 2019 in Russian credit institutions, Vnesheconombank, as well as in international financial organizations with the participation of the Russian Federation have been approved in a new edition.

The loan funds should be directed to the implementation of complex investment projects in priority areas of the civil industry. Subsidies are also provided to compensate for part of the costs associated with the payment of coupon income on bonds issued in 2014-2019 for a period of at least three years. At the same time, the current rules for subsidizing the interest rate on loans received in 2014-2016 remain in force.

In accordance with the amendments, the maximum total cost of the investment project has been increased from 5 to 7.5 billion rubles. For projects for which a special investment contract has been concluded, up to 10 billion rubles.

All procedures related to the submission of applications, exchange of documents, monitoring and control of compliance with the conditions for granting subsidies have now been transferred to digital format. Electronic interaction will be carried out through the State Information System of Industry (GIS), which will increase the speed of bureaucratic processes, transparency and efficiency of this support mechanism.

Subsidies are provided on condition that the project is included in the list of complex investment projects in priority areas of civil industry. The relevant selection is carried out by the Ministry of Industry and Trade of Russia at least once during a calendar year.

"The main goal is to stimulate the growth of investments in civilian industries. At the same time, one of the key criteria for obtaining state support is the availability of export potential for the project, as well as an indicator of international competitiveness for projects implemented within the framework of the priority direction "International Cooperation and Export". In general, according to the interest rate subsidy program, the Ministry of Industry and Trade has already supported 121 investment projects in 42 regions of the country in the amount of 8.1 billion rubles.

Vasily Osmakov, Deputy Minister of Industry and Trade of the Russian Federation

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