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Economy/Business
28 October 2019, 18:26
New production will be mastered in Bashkiria through loan from Industrial Development Fund
UFA, 28 October 2019. /Bashinform News Agency, Galina Bakhshieva/ translated by Tatiana Aksyutina/.
Due to a soft loan from the Industrial Development Fund (FRP), the Bashkir plastic product factory "Alternative" will be able to establish the production of plastic products for the garden, and kitchen.
In Russia, an enterprise from the city of Oktyabrsky plans to sell most of its finished products through large retail chains. About 12% of its products "Alternative" intends to export to Kazakhstan, Belarus, Lithuania, and Latvia.
The total project cost is 200 million rubles. The Industry Development Fund RF is ready to provide 70 million rubles in the form of a soft loan. The Bashkiria Industry Development Fund will allocate another 30 million rubles in the form of a loan, the press service of the republican Ministry of Industry reports.
The Industrial Development Fund was created on the initiative of the Ministry of Industry and Trade of the Russian Federation to modernize the national industry, launch new industries and provide import substitution.
The Industrial Development Fund's programs give an opportunity for domestic enterprises to gain access to preferential debt financing necessary to start production of unique domestic products, as well as analogs of advanced international developments.
The FRP provides loans at 1%, 3% and 5% per annum for up to 7 years in the amount of 5 to 750 million rubles, stimulating the influx of direct investment in the real sector of the economy.
Besides, the FRP agreements with regional industrial development funds make it possible to obtain loans under joint programs.
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