Industrial enterprises of the KChR will be offered soft loans for equipment and new technologies

The funds can be used to develop new production technologies and purchase equipment.

The authorities of Karachay-Cherkessia (KCR) will provide industrial enterprises with soft loans at a rate of 3% per annum. The funds can be directed to the development of new production technologies and the purchase of equipment, the Ministry of Industry, Energy and Transport of the KCR told TASS.

"The Regional Industrial Development Fund of the KChR is launching the" Industrial Development Projects of the Karachay-Cherkess Republic "program, within the framework of which applications from industrial enterprises are accepted. The program provides for the provision of soft loans at a rate of 3% per annum to industrial enterprises for co-financing up to 50% of the total budget of the investment project" , - said the regional ministry.

It is noted that funds can be directed to the development of a new product or production technology, the purchase of industrial equipment, engineering, and the purchase of goods for production. The loan amount can be up to 50 million rubles.

"The program was launched in order to implement the state program of the KCR in the field of industry. You can submit an application on the fund's website: frp-kchr.ru," the ministry added.

Earlier, the press service of the head and government of the republic reported that the KCR, based on the results of a competitive selection among the regions of the country, will receive 70 million rubles for the modernization and development of the republic's industry, and 13 million rubles will also be allocated from the republican budget. The funds will be directed to additional capitalization of the regional industrial development fund, as well as to provide direct state support to enterprises purchasing new production equipment. Also, within the framework of the program, new jobs will be created.

Source: https://tass.ru/