The Regional Development Fund for the Yaroslav Region, as part of its business support programmes, provided concessional loans worth over 200 million roubles. Funding was aimed at modernizing production, increasing capacity and increasing productivity of enterprises in the region.

" Supporting the productive sector is a key priority for the region. Thanks to the mechanisms of the Regional Development Fund, we not only promote the modernization and expansion of enterprises, but also create conditions for technological growth, sustainable development and import dependency in the Yaroslav region ' s economy " , noted by Alexander Eduardovic Olhov, Minister of Industry and Investment of the Jaroslava Region.

Among the recipients of the support, leading production companies in the Yaroslav region, such as the Ruse Mechanics AO, received 54.5 million roubles under the Industrial Development Programme for a productivity improvement project. PCF Silouette implemented two phases of expansion of production capacity, receiving over 80 million roubles. AO YART received 15.7 million roubles to modernize the settlement process. There are also support recipients of the Gangly Kabel, the NZ RTI, the LLC CWO and others.

Funds have been allocated for the purchase of new equipment and for the upgrading of enterprises, which has significantly increased output levels and improved technological efficiency.

The Yaroslav Regional Development Fund is now implementing a set of concessional financing programmes aimed at supporting the region ' s enterprises. The main objective of the programmes is to promote the development, technological upgrading and productivity of businesses, including by focusing on priority industrial policies such as importation and digitalization of production.

The " Development " programme focuses on small and medium-sized enterprises that implement projects to build, develop or upgrade productive capacities. Under the programme, a loan of between 5 and 20 million roubles may be issued for up to three years. The interest rate is a quarter of the key rate of the Central Bank of the Russian Federation as at the date of application, with an addition of 3 per cent. An enterprise ' s participation in project financing at least 20 per cent of the total budget is mandatory.

Industry is designed to implement larger investment projects related to upgrading, expanding or refining production processes. The enterprise may receive a loan of between 10 and 60 million roubles for up to three years. The percentage rate for the programme is 5 per cent of the annual rate. The claimant ' s minimum co-financing rate is 20 per cent of the total cost of the project.

The Regional Development Fund is also implementing joint programmes with the Russian Federation Industry Development Fund. This mechanism provides concessional financing for large and technologically complex projects aimed at importing, producing equipment and components, digitizing production and increasing productivity. As part of co-financing, the enterprise may receive a loan of between 20 and 200 million roubles for up to five years, at a rate of between 3 and 5 per cent per annum.

Further information on available support measures can be found at https:/ /clck.ru/3MKPst