The Russian government launches a new program to support large investment projects
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The Government of the Russian Federation has prepared a new program to support major investment projects that contribute to achieving Russia's technological sovereignty. The corresponding resolution was signed by the Chairman of the Government of the Russian Federation Mikhail Mishustin, the document is published on the official website of the government.
The document introduces the concept of "technological credit" and approves the rules for providing guarantees for such loans. Their amount will range from 10% to 50% of the principal amount. Guarantees will be provided by the development corporation "VEB.The Russian Federation", their total volume will amount to 200 billion rubles.
Investors with projects with a total value of 1 billion to 20 billion rubles will be able to apply for guarantees on technological loans. The share of the borrower's own funds must be at least 20%. The loan term will be from 3 to 15 years.
Chairman of the Government of the Russian Federation Mikhail Mishustin: "The new tool will help open up more promising industrial production facilities."
The work will be carried out in 13 areas: aviation industry, automotive industry, railway engineering, medical industry, oil and gas engineering, agricultural engineering, specialized engineering, machine tool industry, shipbuilding, pharmaceuticals, chemical industry, electronics and energy.
For example, in the aviation industry, projects will be implemented to create civil and cargo aircraft, drones, spacecraft and satellites. In the medical industry, the creation of pacemakers, prostheses, surgical instruments, ventilators and other equipment is recognized as a priority. In the field of agricultural machinery – the production of domestic combines, tractors and their components.
The priority areas include industries where the level of localization of production is now less than 50%. In addition, it includes industry areas that are critical to ensuring technological sovereignty.
The signed resolution is part of the work on the execution of the President's instructions, which he gave following the results of the XXVI St. Petersburg International Economic Forum, held in June 2023.
