ANNOUNCEMENT 03 Mar 2016

In March 2016, the Industrial Development Fund has announced new programmes, under which Russian enterprises are able to receive loans from the Fund. 

NUMBER OF INTERVENTIONS

2

  • 0 harmful
  • 2 neutral
  • 0 liberalising

SOURCE

Industrial Development Fund (2016). ФРП изменил программы для развития среднего бизнеса. (FRP has changed programs for the development of medium-sized businesses). Available at http://frprf.ru/press-tsentr/novosti/frp-izmenil-programmy-dlya-razvitiya-srednego-biznesa/

Inception date: No inception date

State loan

The government of Russia specified the sectors eligible for a new industrial policy vehicle in early 2016.
On 3 March 2016 the Advisory Council of the Fund for Industrial Development (FID) adopted a new program "Projects for development" for support of selected manufacturing sectors of the Russian economy. The eligible sectors are:

  • Manufacturing of textiles
  • Manufacturing of clothes
  • Manufacturing of leather and leather products
  • Manufacturing of wood and manufacture of products of wood and cork, except or articles of straw and plaiting materials
  • Manufacturing of paper and paper products
  • Manufacturing of chemicals and chemical products
  • Production of medicines and materials used for medical purposes
  • Manufacturing of rubber and plastic products
  • Manufacturing of other non-metallic mineral products
  • Manufacturing of metallurgical products
  • Manufacturing of fabricated metal products, except machinery and equipment
  • Manufacturing of computer, electronic and optical products
  • Manufacturing of electrical equipment
  • Manufacturing of machinery and equipment not included into other groups
  • Manufacturing of motor vehicles, trailers and semi-trailers
  • Manufacturing of other transport equipment
  • Manufacturing of furniture
  • Production of other finished products
  • Repair works and installation of machinery and equipment.

Under the new programme, FID provides credits for co-financing of project costs. The credits' amount is between 50 and 300 million RUB (ca. between 0.71 and 43 million USD).
The purpose of this state initiative is to create conditions for the manufacturing of competitive, import-substituting hi-tech produts.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
 

AFFECTED PRODUCTS

 
N/A
Inception date: No inception date

State loan

On 3 March 2016 the Advisory Council of the Industrial Development Fund adopted a new programme "leasing projects", under which the Fund becomes involved in providing financial support for leasing projects aimed at supporting technological re-equipment and / or upgrading the fixed assets of Russian industrial companies.
The program is implemented with the participation of authorized leasing companies, authorized banks and the Bank of Russia.

 
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