Bashkiria Industry Development Fund has attracted over 1 billion rubles of investments over year

UFA, 12 February 2019. /Bashinform News Agency, Galina Bakhshieva/ translated by Tatiana Aksyutina/.

The Industrial Development Fund of Bashkortostan attracted more than 1 billion rubles of investments in industrial production of the republic last year, the Fund’s director Anver Karimov stated.

The Fund has been operating in the republic since July 2017 and is included in the system of the Industry Development Fund of the Russian Federation.

Its main task is to provide concessional loans for co-financing projects aimed at the production of new high-tech products, modernization, technical re-equipment and the creation of competitive industries.

“Today we are part of the infrastructure for supporting industrial activities and are an attractive financial tool. The Fund provides targeted loans at a rate of 1%, 3% and 5% per annum for a period of up to 5 years in the amount of 5 to 100 million rubles, stimulating an inflow of direct investment in the real economy. The results of work with enterprises of the region last year suggest that this type of project financing is important and relevant,” said Anver Karimov.

According to him, loans are granted to companies after passing through the examination of projects.

Three own programs have been developed for Bashkortostan: “Region”, “Energy Saving” and “Strategy”, which provide funding from 10 to 100 million rubles for a period of up to 5 years.

Within the framework of the regional program, concessional loan financing is provided for the implementation of projects aimed at introducing advanced technologies, modernizing production, creating new competitive and high-tech civilian products with import-substituting and/or export potential.

You can submit your project for funding consideration on the website of the Bashkortostan Industrial Development Fund.