One billion rubles will be allocated by the government for preferential loans to priority product manufacturers

The Government is launching a special program of preferential lending to companies implementing investment projects for priority industrial products manufacturing. The order on the allocation of the funds and the resolution on the details of the new program were signed by Prime Minister Mikhail Mishustin.

This concerns preferential loans at a rate of no more than 30% of the Central Bank’s key interest rate plus three percentage points. The difference will be compensated to banks by subsidies from the federal budget. The maximum loan amount is 100 billion rubles. The amount of co-financing for each investment project should be at least 20% of its total cost.

The list of priority industrial products for which manufacturers may get a preferential loan will be approved by the Ministry of Industry and Trade by decision of a special interdepartmental commission.

The new support tool is aimed at stimulating investment activity, achieving technological sovereignty and accelerating the country’s economic growth.

The President instructed the Government to ensure the preparation and implementation of a set of additional measures aimed at attracting investments in projects for the production of priority industrial products following the meeting of the Council for Strategic Development and National Projects held on December 15, 2022.

Source