It is no longer necessary ahead of schedule - Newspaper Kommersant No. 227 (7428) dated 12/07/2022

It is no longer necessary ahead of schedule - Newspaper Kommersant No. 227 (7428) dated 12/07/2022



In connection with the complete lack of demand for the program of preferential loans for the early commissioning of objects under construction under state contracts, the Ministry of Construction proposes to radically change it. So, the department plans to remove the upper threshold of the rate on such loans. At the same time, the mechanism for subsidizing lost income by banks remains - in this way, creditors will be given the opportunity to independently determine the "degree of concession" of loans. At the same time, it is planned to expand the intended use of loans and issue them to contractors, regardless of their readiness to accelerate the commissioning of facilities, that is, in general, for the execution of a state contract.

The Ministry of Construction proposes to revise the program of preferential loans at 3% per annum, provided for the early completion of capital construction projects under government contracts. This program was launched in 2021, when market rates for developers were 11-12%. Contractors who were ready to complete the construction of social, engineering and transport infrastructure facilities under government contracts at least six months earlier than stipulated by the contract could count on preferential loans (see Kommersant dated January 12, 2021). Initially, the program was designed for a year, then it was extended and expanded to include all capital construction projects under government contracts. It was assumed that about a hundred projects with a total value of more than 120 billion rubles could receive such state support.

However, as the Ministry of Construction notes in an explanatory note to the draft government decree prepared by it, the mechanism turned out to be unclaimed: in 2021, less than 1 million rubles were disbursed. out of 608 million rubles allocated for these purposes, this year the cash execution, as of August 31, was equal to zero. The Ministry of Construction explains this by the fact that in the current macroeconomic conditions, contractors are not ready to take on obligations for early commissioning of facilities, as well as an additional financial burden on paying interest on borrowed funds, even at a reduced rate of no more than 3% per annum. It should be noted that the mechanism of changing the price of state contracts within 30% could also reduce the attractiveness of the program. It provides for the possibility of extending the period for the implementation of the contract - this option seems to be more profitable for contractors due to the ability to partially offset the increase in prices for building materials.

According to the draft resolution, the preferential rate of 3% on loans "for completion" is canceled - a new one is not established. However, the very mechanism of subsidizing the income lost by banks due to the issuance of loans at a rate below the market remains. This means that the size of the rate should be set at the discretion of the bank - in accordance with compensation from the budget. That is, the rate will still be reduced. At the same time, it is planned to significantly expand the intended use of such loans - to issue them to contractors, regardless of their readiness to accelerate the commissioning of the facility, that is, in general, for the execution of a state contract.

According to the president of NOSTROY Anton Glushkov, the gradual expansion of the grounds for obtaining soft loans by contractors "will have an extremely positive effect" and will help the construction industry "remain the driver of the economy" and projects are implemented in accordance with the established deadlines. According to Rifat Garipov, head of the commission for project financing of the public council under the Ministry of Construction, without obligations to complete the facility ahead of schedule, the program may become quite popular. “In this form, it can give developers an additional tool for financing the construction process at all stages,” the expert says.

Evgenia Kryuchkova



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