ANNOUNCEMENT 29 Apr 2021

On 29 April 2021, the Industrial Development Fund approved a preferential loan to the local bullet manufacturer. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 29 Apr 2021 | Removal date: open ended

State loan

On 29 April 2021, the Industrial Development Fund approved a USD 10 million state loan to a Russian bullet manufacturer Ulyanovsk Cartridge Plant in the framework of its "Conversion" program that helps military-industrial complex switch to civilian productions. 

Ulyanovsk Cartridge Plant got a loan for 750 million rubles (USD 10 million) to set up a production of wet-composition Berdan-type capsules small arms used for sports or hunting. The production of a new generation of primer-igniters will make it possible to make up for the short supply of primers to the cartridge industry. The UCP is the recipient of the largest loan in this lending round. 

The loans under the Conversion program carry an interest rate of 1% for the first 3 years and 3% afterwards. To compare, the basic rate of the Bank of Russia is 5%. Up to 750 million can be borrowed. 

 

 

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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