In 2018, purchasers of agricultural, road construction, and utility machinery, as well as equipment for food-processing industries, will be able to take advantage of preferential lending terms.
The corresponding Rules for Granting Subsidies to Russian Credit Institutions for Reimbursement of Falling Income on Loans for the Purchase of Agricultural, Road Construction, and Utility Machinery, and Equipment for Food-Processing Industries come into force on March 2, 2018 (Resolution of the Russian Federation Government No. 163 of February 17, 2018).
According to the terms of the programme, the end user can be provided with loans for the purchase of agricultural, road construction, and utility machinery, as well as equipment for food-processing industries on preferential terms, which imply a credit rate of about 5% per annum.
The preferential lending programme applies to loans issued in RUB within the period from January 1 to December 1, 2018 for a term of no more than 5 years.
State support would facilitate additional capacity utilisation of enterprises, preservation of jobs, including those in allied industries. In addition, the implementation of this State support mechanism would ensure additional revenues to budgets of all levels.