Kommersant learned about the plans of the Ministry of Digital Finance for lending to electronics manufacturers

The Ministry of Digital Development is working on new measures to support Russian electronics manufacturers. The department is going to launch a program of concessional lending to vendors together with the largest banks. About it informs Kommersant, citing a source in the government.

On August 1, the Ministry of Digital Development held a discussion of the initiative with representatives of banks, including Sberbank, Alfa Bank and VTB. According to the agency’s proposal, Russian companies will be able to obtain loans for the purchase of components and the implementation of investment projects at 5% per annum with a minimum loan amount of 4 billion rubles. The government will reimburse banks for the difference between the market and preferential interest rates at the expense of funds from the reserve fund.

Another interlocutor of the newspaper, who is familiar with the situation, noted that the support mechanism is still “in the design stage.” He added that this measure will help companies that do not have enough working capital, “including due to the fact that their foreign suppliers of components often require full payment in advance.” The Ministry of Digital Finance, Sberbank, Alfa-Bank and VTB did not respond to the newspaper’s requests.

Earlier, the Ministry of Digital Development and the Ministry of Industry and Trade announced a number of projects to support Russian electronics manufacturers. So, in 2021, departments began to develop a mechanism for “cross-cutting projects”. According to the initiative, large companies, when purchasing Russian equipment for digital projects, will be able to receive a subsidy from the budget, which compensates up to 50% of the cost of the project itself. The measure was supposed to create a guaranteed pent-up demand for equipment that has not yet been created.

However, the project was never launched. At the beginning of 2022, it was recognized as unfinished, and after February 24, it went to the next stage of modernization. His status is currently unknown.

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