More than billion rubles will be allocated to support industrial mortgages in Russia

Tatyana Aksyutina

Over 1 billion rubles will be directed to support the industrial mortgage program - providing preferential loans to enterprises to purchase real estate for industrial production. Prime Minister Mikhail Mishustin signed the corresponding decree, the press service of the Russian government reports.

The President launched the industrial mortgage program in September 2022, arousing tremendous business interest. Loans under the program are issued for up to 7 years at a preferential rate of 5% per annum. For innovative technology companies, the rate is 3% per annum. The maximum loan amount is 500 million rubles. The state compensates the difference between preferential and market rates to banks. Considering the funds allocated by the order, the total amount of subsidizing the program in 2023 will exceed 1.3 billion rubles.

Earlier, Bashinform News Agency reported that Bashkiria would become a pilot region where industrial mortgage mechanisms would be tested.

Author: Roman Yakimchuk

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