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
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/
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:
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.
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.