Putin urged the government not to delay the introduction of industrial mortgages
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Russian President Vladimir Putin, during a meeting with the government, said that officials should not delay the introduction of industrial mortgages and the launch of this program. The head of state specified that the topic of industrial mortgage would be discussed at the next meeting of the Presidium of the State Council.
“It is necessary to ensure the rapid launch of new projects in the manufacturing industries. Especially in the production of high-tech products. Decisions to support such projects have been made. I am also referring to the cluster investment platform and industrial mortgages,” Vladimir Putin said.
According to the president, industrial mortgage mechanisms should be applied as widely as possible.
Russian Prime Minister Mikhail Mishustin announced start of the industrial mortgage program in September 2022. It is assumed that preferential loans at a rate of 5% will be issued to enterprises for the purchase of real estate to launch industrial production. For technology companies, the rate will be 3% per annum. The maximum loan amount is 500 million rubles, it will be issued for seven years.
Ministry of Industry and Trade of Russia offers expand industrial mortgages at 3% or 5% per annum, primarily by extending such loans not only for the purchase of ready-made premises, but also for the construction, modernization, repair of facilities and the purchase of land.
Read more about proposals to expand the industrial mortgage program in the material “Kommersant” “Industry is seduced by mortgages”.
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