RF Government to allocate RUB 70 billion for subsidizing the purchase of 85 ships by 2034 — media
The programme is to cover second-hand and new ships of foreign origin, first of all 60 bulkers including 12 Capesize ships
The Government of the Russian Federation is developing a programme to subsidise interest rates on loans for the purchase of 85 ships for export/import operations of Russia. The banks are to provide over RUB 150 billion, RUB 70 billion to be subsidized by the Government, according to Kommersant referring to its sources.
The programme is to cover second-hand and new ships of various sizes and types, first of all 60 bulkers including 12 Capesize ships. Under consideration are 7-9 containerships, 7 multipurpose ships and 15 tankers no larger than Aframax ships. No types of cargo are specified for the latter while the sources say the programme does not cover oil tankers.
The Government will subsidize up to 9 percentage points of the commercial rate. With the Government’s subsidy the banks will be able to provide soft loans at the rate of 4%. According to the revised document, a subsidy can be provided if the share of cargo transported in the framework foreign economic activity is not below 50% of the total volume carried over the reported period.
In 2023-2024, RUB 24.3 billion is to be allocated from the reserve fund of the Government. Then, up to 2034, the allocations will be financed under the state programme “Transport System Development” which is to be increase by about RUB 46 billion for that purpose. According to another source of the newspaper, allocations will total RUB 5 billion in 2023 and RUB 30 billion in 2024.
