The EDF will provide loans of up to RUB 2 billion for projects in the manufacturing industry
2021-01-02 02:21

The EDF will provide loans of up to RUB 2 billion for projects in the manufacturing industry

The Supervisory Board of the Industrial Development Fund (IDF) included all economic activities in the manufacturing industry except for manufacturers of tobacco products, coke, petroleum products, nuclear fuel, food processing and printing businesses into the program on priority projects.

This will make it possible for a large number of industrial enterprises to get preferential loans of half a billion rubles to 2 billion rubles for up to 7 years at 1% or 3% per year.

Denis Manturov, the head of the Ministry of Industry and Trade said that the main requirement to the products is that they must be included in the industry-specific import substitution plans.

Previously, loans under this program received only those companies that produce products for the production of liquefied natural gas and offshore projects, as well as manufacturers of turbines of high capacity and drilling equipment.

In July last year, because of the pandemic, the programme was extended to manufacturers of nonwovens, rubber gloves and equipment for manufacturing personal protective equipment.

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Author: Ksenia Gustova