The government of the Chukotka Autonomous region approved the procedure for granting support for Northern delivery. Businessmen who received targeted loans in 2017 and 2018 for the delivery of food, will be partially reimbursed for the payment of interest on loans obtained in Russian banks. TASS reported on Friday by the County government.

"In accordance with the first directions, the entrepreneurs received support in the past year, will be able to reimburse a part of paid for the period from November 2017 to November 2018 interest on past credit agreements. In the second direction, individual entrepreneurs and legal entities, attracting loans for Northern delivery this year, will receive a subsidy for compensation of part of expenses for payment of interest accrued and paid under the credit agreement for the period from January to November of 2018," said the government.

Compensation is calculated as half of the Bank of Russia key rate effective on the date of the loan agreement. The main conditions for subsidies are: registration on the territory of Chukotka, the availability of outlets and consumption of at least 60% of the loan directly to purchase food (excluding tobacco and alcohol products, including beer - approx. TASS), and pharmaceutical products.

By the end of 2017 support for Northern delivery received 10 entrepreneurs for a total amount of 4.5 million rubles.