Mishutin approved the parameters of the industrial mortgage

Russian Prime Minister Mikhail Mishustin signed a resolution approving the parameters of industrial mortgages. About it reported on the cabinet website.

According to the initiative, enterprises will be able to receive loans at a preferential rate of 5% per annum for up to seven years. Technology companies were offered an even lower rate – 3% per annum. The upper limit of the loan is 500 million rubles.

Mishustin announced launch of industrial mortgage on September 5 during an operational meeting with vice-premiers. According to him, the initiative will help enterprises optimize the cost of such a costly part of the estimate as the purchase of new premises.

Earlier, the launch of the mechanism was announced by Russian President Vladimir Putin at the St. Petersburg International Economic Forum. In July, at the Innoprom-2022 exhibition, Mishustin confirmed that the government intends to launch an industrial mortgage so that businesses can buy ready-made production sites.

The Prime Minister instructed the Ministry of Industry and Trade, the Ministry of Finance and the Ministry of Economic Development to work on this issue. The mechanism of the new preferential lending program was developed by the Ministry of Industry and Trade. In early September became knownthat the agency proposed to reduce the rate for innovative companies to 3% per annum.

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