MOSCOW, 5 December (BelTA) – The Council of the Eurasian Economic Commission has authorized granting subsidies from the Eurasian Economic Union budget for the sake of implementing two new projects as part of the procedure for financing manufacturing cooperation. The decision was made at the session held in Moscow on 5 December and chaired by Deputy Prime Minister of Belarus Natalya Petkevich, the press service of the Eurasian Economic Commission told BelTA.
One of the projects is getting implemented by the Russian company Beshtau Electronics in association with the Belarusian company OOO Nero Electronics and the Kyrgyz company OOO Kyrgyz Electronics. The project envisages the production of personal computer system units. As part of the second project RPA Voyage Company has teamed up with the Armenian company OOO Metalstroi and the Belarusian company OOO RuchServomotor in order to launch high-tech manufacturing of components for railway transport, including high-speed trains, in the Russian Federation.
Both projects fully meet the necessary criteria stipulated by the regulation on shortlisting manufacturing cooperation projects.
“The decision of the Council of the Eurasian Economic Commission is very important for us. It is a cumulative sum of our work on implementing a new supranational financing tool. Two more projects have been added to the three already approved this year. It is important that all member states are participating in the projects. I am confident that the implementation of the adopted initiatives will contribute to the achievement of the main goal: the formation of steady economic ties between our countries,” commented Gohar Barseghyan, Member of the Board (Minister) for Industry and Agriculture of the Eurasian Economic Commission.
The mechanism to provide financial support to EAEU producers provides for subsidizing the interest rate on loans and credits issued by financial organizations for the implementation of joint projects from the EAEU budget. “The EAEU heads of state have approved unprecedented terms for business: compensation to the tune of 100% of the key rate of the central (national) bank of the member state,” the press service reminded.
So far the Eurasian Economic Commission has received 16 applications for subsidies: 13 from Russia, 2 from Kazakhstan, and 1 from Kyrgyzstan, with the total worth of about RUB17 billion. Five projects have been approved. The other applications are at various stages of the review process.
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