Bashkiria Industrial Development Fund will be capitalized by 200 million rubles

The Industrial Development Fund of Bashkortostan will be capitalized by 200 million rubles this year, and by another 100 million rubles in 2022. The government of Bashkiria made this decision in order to increase the stability of the economy. These measures will allow attracting federal funds for co-financing.

According to the Ministry of Industry RB, in January-June, the IDF financed eight investment projects of industrial enterprises with a total budget of over 676 million rubles, the amount of loans amounted to 106.6 million rubles. IDF also raised over 300 million rubles of federal funds for the implementation of four investment projects.

“The Industrial Development Fund of Bashkortostan proved its effectiveness by the fact that the republic in 2021 took the first place in the country for industrial development. Therefore, it is necessary to continue working on state support for such development institutions,” Prime Minister Andrei Nazarov stated.