Russian authorities allocated 43.8 million rubles to support Bashkiria industry

The Russian authorities allocated 43.8 million rubles to Bashkiria to support industry. The funds are intended for regional industry development programs., the Russian government has allocated a total of 3.7 billion rubles for these purposes in 2022. The corresponding resolution was signed by the Prime Minister.

The funds will be distributed among 54 regions determined by the results of the competition. Subsidies will go to investment projects to modernize industrial enterprises. This includes the reimbursement of part of the costs for the purchase of new equipment, compensation for lease payments, payment for the services of resource-supplying organizations for connecting to public infrastructure.

Under the terms, new jobs must be created as part of each project. Besides, state funding is available only if private investors are also willing to invest in the production modernization.

Subsidies will allow enterprises to reduce the cost of updating capacities, stimulate investment activity in the regions and help increase the competitiveness of Russian industries.

In 2021, 1 billion rubles were allocated to finance regional industrial development programs. Subsidies were received by 25 regions of Russia. Bashkiria did not receive such a subsidy in 2021.