The government will allocate 1 billion rubles for loans to manufacturers of industrial goods

The government will allocate 1 billion rubles. for the program of concessional lending to manufacturers of priority industrial goods. About it reported on the cabinet website.

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

It is clarified that these funds were allocated on behalf of Russian President Vladimir Putin following a meeting of the Council for Strategic Development and National Projects, which took place on December 15, 2022. The order on the allocation of funds was signed by Prime Minister Mikhail Mishustin.

The government explained that the maximum loan amount is 100 billion rubles. At the same time, the amount of co-financing for each project should not be less than 20% of its total cost. Preferential loans will be issued at a rate not exceeding 30% of the key rate of the Central Bank plus 3 percentage points. The banks will receive the difference from the federal budget.

The Cabinet noted that the list of products for the production of which it will be possible to take a preferential loan will be formed later by the Ministry of Industry and Trade.

Putin has repeatedly stressed the importance of Russia’s technological sovereignty. In particular, on February 8, during the award ceremony for young scientists in the field of science and innovation for 2022, the head of state markedthat scientists will have to create “proactive products” and developments in a short period of time that will be able to ensure the technological sovereignty of the country.