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1. Brit a reduction in the usual price of a ticket granted to a special group of customers
2. any grant of rights, land, or property by a government, local authority, corporation, or individual
3. US and Canadian
a. the right to maintain a subsidiary business on a lessor's premises
b. the premises so granted or the business so maintained
c. a free rental period for such premises



an agreement granting, under specified terms, rights for the exploitation of natural resources and enterprises belonging to a country or municipality. In capitalist countries, concessionaires are usually large monopolies which use the concession to make monopolistic profits.

In the era of imperialism, international concessions developed extensively, enabling the imperialist powers to ensure raw materials for themselves and to preserve their economic influence in developing countries. Examples of such concessions are the petroleum concessions of imperialist monopolies in the Middle East and North Africa. These concessions, particularly those granted before World War II or in the early postwar years, covered vast areas and were given for long terms. Concessions in Bahrain, Trucial Oman, Qatar, Kuwait, Muscat and Oman cover the entire country. The Bahrain Petroleum Company received a concession for 91 years and the Kuwait Oil Company for 92 years. The concession agreements granted the foreign monopolies the exclusive right of extraction, processing, and marketing of petroleum and guaranteed them the right to build means of transportation, pipelines, ports, and other necessary installations.

In the early 1950’s, with the growth and strengthening of the world socialist system and the upsurge in the liberation movement, the imperialists were forced to agree to increase payments for their concessions in a number of Middle Eastern and North African countries. Previously specified payments were replaced by the principle of an equal division of profits, although the colonial nature of the existing concessions remained unchanged. Since the export of petroleum is the main source of revenue for many Middle Eastern and North African countries, they began to coordinate their efforts to gain more advantageous terms for the concessions they granted.

In 1960 the Organization of Petroleum Exporting Countries (OPEC) was formed to work out a uniform policy aimed at changing the unequal terms of concession agreements, increasing petroleum revenues, and developing national petroleum industries. OPEC launched an offensive against the oil monopolies and achieved significant success. By 1973 OPEC was making decisions that hitherto had been made exclusively by foreign monopolies, particularly those concerning prices and the distribution of profits from the extraction of crude oil between the producing countries and the monopolies.

The concessions that existed in the USSR in the period of transition from capitalism to socialism were fundamentally different economically and politically. The decree of Nov. 23, 1920, permitted the granting of concessions in order to attract foreign capital into industries and regions that the Soviet government was unable to develop at the time. V. I. Lenin thus described the aim of these concessions: “We make sacrifices giving to the foreign capitalists millions of the most valuable materials … , but at the same time we must get the advantages we need, that is, an increase in production volume and, if possible, the improvement of the condition of our workers, both those employed in concession enterprises and those not employed by them” (Poln. sobr. soch., 5th ed., vol. 43, p. 190). Under the dictatorship of the proletariat, concessions were used only to the extent that they could be useful for the development of the national economy, and they did not in the least affect the economic independence of the USSR. Concessions in the USSR played an auxiliary role in economic construction and were not extensive. By 1937 all concession agreements were canceled with the con-sent of the concessionaires.


Lenin, V. I. “Zakliuchitel’noe slovo po dokladu o kontsessiakh.” Poln. sobr. soch., 5th ed., vol. 42.
Lenin, V. I. Ibid., pp. 118–24, 126–27.
Lenin, V. I. “Doklad o kontsessiakh.” Ibid., vol. 43.
Lenin, V. I. “Russkoi kolonii v Severnoi Amerike.” Ibid., vol. 45.
Lenin, V. I. A. P. Serebrovskomu. (Letter.) Ibid., vol. 52.
Lenin, V. I. “Telegramma kraevomu ekonomicheskomu soveshchaniu lugo-Vostoka.” Ibid., vol. 54.
Lenin, V. . Armandu Hammeru. (Letter.) Ibid., vol. 54.
Lenin, V. I. I. V. Stalinu dlia chlenov Politbiuro TsK RKP (b). (Letter.) Ibid.
Andreasian, R. N., and A. Ia. El’ianov. Blizhnii Vostok, neft’ i nezavisi-most’. Moscow, 1961.
Levin, A. Ia. Sotsial’no-ekonomicheskie uklady v SSSR v period perekhoda ot kapitalizma k sotsializmu. Moscow, 1967.
Mikdashi, Z. A Financial Analysis of Middle Eastern Oil Concessions 1905–1965. New York [1966].



i. Permission allowed by a designated authority to operate an aircraft even when there is some shortfall in terms of serviceability of some system.
ii. Permission granted for continued use of a component for a specific period of time when it is due for servicing or replacement. This is also applicable to servicing of the complete aircraft.
References in periodicals archive ?
The facility will also have an additional $10 million in grants to leverage for further concessional financing following the announcement of a new pledge by Sweden," the statement added.
LOAN SOURCE LOAN VALUE ($) LOAN TYPE ANGOLA 2010 China Exim Bank 500m Concessional China 203m Credit line China 8.
Jaitley said the government would be requiring ` 2,400 crore to provide cooking gas at concessional rate to 1.
Under an IMF projection where real economic growth was lower, at just 1 percent, Greece's debt would remain above 100 percent of GDP for the next three decades, it said, even with a lengthening of maturities and new loans on concessional terms.
The State Minister at the Ministry of Finance and National Economy Abdel-Rahman Dirar revealed, after returning from China yesterday, that the China's Import and Export Bank agreed to extend loans to the productive projects in the production supporting sectors including agriculture, industry and infrastructure through concessional conditions.
Some 23,610 entrepreneurs received concessional loans totaling $1.
Small and medium-sized enterprises received more than 720 million somoni ($144 million) of grants and concessional loans from the state budget over the past five years.
The Kuwait Fund for Arab Economic Development (KFAED) will grant Egypt a $100m concessional loan for the West Cairo power station, Ministry of International Cooperation spokesperson Mohamed Hassan said Sunday.
Apart from the soft loans, the Fund will also be offering Green Concessional Loans to provide incentives to businesses to reduce their impact on the environment by adopting eco-friendly practices and operations.
This grant element, which is calculated using the repayment schedule and total cost of the loan to the recipient, varies widely by donor: loans from South Korea and Australia, for example, have average grant elements of almost 90%, while those from Finland (35%) or France (45%) are significantly less concessional.
New Delhi, April 20 -- The EU, with sluggish sales of automobiles has made a provision under the Indo-EU FTA to allow import of cars into India at concessional duties.
In its new three-year rolling Country Operations Business Plan (COBP) for 2013-2015, released on December 18, 2012 which indicated how the bank will be supporting the government and Cambodia for the next three years, the fund comprises Asian Development Fund's concessional loans of $491 million to both firm national and regional projects and programs, and $34.