Industrial enterprises of Smolensk region will be able to receive preferential loans for 20 to 100 million rubles

On the task of Governor Alexey Ostrovskiy, the delegation of the region is taking part in the IX International Industrial Exhibition "INNOPROM-2018", at which the Smolensk Regional Fund for Entrepreneurship Support signed the Agreement on Cooperation with the Federal Industrial Development Fund (FRP).

It should be noted that on the initiative of Governor Alexey Ostrovskiy, the Smolensk Regional Fund for Entrepreneurship Support has received the functions of the Industrial Development Fund. Last year, the Expert Council of the Federal Fund approved four applications from the industrial enterprises of the region. Two of them - Vyazma Machine Building Plant and Desnogorsk Polymer Plant - received loans for more than 171 million rubles.

"INNOPROM" is the annual International Exhibition of Industry and Innovations, organized with the support of the Industry and Trade Ministry of Russia. This year, the event brought together representatives of 95 countries. The business program of the exhibition, which runs from 9 to 12 July, includes plenary sessions, strategic sessions and thematic forums dedicated to the issues of digital production, robotics, transport engineering, metal processing, digitalization of the industrial sector of the economy, etc.

The Cooperation Agreement between the Smolensk Regional Fund for Entrepreneurship Support and the Federal Industrial Development Fund signed at the INNOPROM-2018 exhibition will allow the regional companies to attract loans to carry out investment projects for the amount of 20 to 100 million rubles at 5% per annum interest rate for up to 5 years, while the share of investments of the federal Fund will be 70%.

 "This ratio will allow the regional Federal Industrial Development Fund, even with a relatively small annual budget, to finance a significant number of regional industrial projects, relying on the "federal shoulder". The procedure and conditions for selecting projects to get a joint loan are determined by the standards and regulations of the Federal Fund. Decision on co-financing will be taken by the Expert Council of the Federal Industrial Development Fund on the basis of the conclusion made by the regional Fund," commented Roman Petruta, Director of the Federal Industrial Development Fund.