Andrey Nazarov called Bashkiria Industry Development Fund best supporter of enterprises

Prime Minister of Bashkiria Andrey Nazarov called the Republican Industrial Development Fund the most effective and promising development institution for supporting enterprises' investment projects. He stated this at a regional government meeting; one of the discussion topics was the provision of grants to industrial enterprises to reimburse part of the interest rate on loan agreements.

He noted the contribution of the Fund to the rating of the industrial policy effectiveness in the regions of the country, compiled by the Ministry of Industry and Trade of Russia. Last year, Bashkiria took first place in this rating.

Recall that the Republican Industrial Development Fund provides grants to legal entities and individual entrepreneurs to reimburse part of the costs to pay interest on loans or tranches received in the period from 2021.

The maximum amount of grants per applicant cannot exceed 5 million rubles during a calendar year. Organizations that have received support for their project at Investment Hour sessions and those working in the industrial sector in several areas are eligible to receive such a grant.

As the Industry Minister of Bashkiria Alexander Sheldyaev explained at a meeting in the government, the effectiveness of providing such a measure of state support is emphasized by the fact that each ruble of state support allows attracting up to 10 rubles of co-financing of an industrial project in the form of investments.

According to him, the Industrial Development Fund has been actively working in the region since 2017. During this time, 85 projects of industrial enterprises were supported with a total investment of more than 30 billion rubles in the economy of Bashkiria. Of these, 10.6 billion rubles were attracted from the Russian Industrial Development Fund.

Author: Galina Bakhshieva