The Cabinet of Ministers extended the program of subsidizing loans for the purchase of civil ships

Russian Prime Minister Mikhail Mishustin signed a decree extending the subsidy program for loans and leasing agreements for the purchase of Russian-made river and sea vessels until the end of 2025, reported on the government website.

This program was launched in 2009 and is one of the main shipbuilding support measures in Russia. Under the program, shipping companies can receive compensation from the state up to 75% of the cost of paying interest on a loan or payments under a leasing agreement for the purchase of a domestic vessel. The budget of the Russian Federation for these purposes provides for more than 3 billion rubles. annually.

As the press service of the Cabinet of Ministers noted, the program is being extended to support the industry against the backdrop of sanctions pressure. Mishustin himself, announcing this decision at a meeting on July 31, also promised to keep the possibility of buying ships with installment payment until the end of the year. According to him, this measure also proved to be effective in the face of sanctions, and the change of ownership made it possible to continue the safe operation of more than 50 vessels.

Earlier, at the June meeting on the development of river navigation, Russian President Vladimir Putin offered to expand the civil shipbuilding program until 2035 both in terms of the number of ships and in terms of funding. This year, in order to achieve the goals of the plan, it was decided to finance the construction of 260 vessels in 2023-2027. using the funds of the National Welfare Fund, the President noted. In total, the program provides for the construction of about 1,000 ships.