The Government Expanded the Industrial Mortgage Programme

The Government continues to support the development of industrial production in Russia. On behalf of the President, it was decided to expand the parameters of the industrial mortgage programme. The decree was signed by the Prime Minister Mikhail Mishustin.

Now it will be possible to get a preferential loan not only for the purchase of real estate for industrial production, but also for the construction, modernization and reconstruction of such facilities.

At the same time, for objects under construction, being modernized and reconstructed, the standard cost of 1 sq. m – no more than 90 thousand rubles. For acquired real estate – no more than 75 thousand rubles in Moscow, the Moscow Eegion and St. Petersburg and no more than 50 thousand rubles - in other regions.

"We hope that the program will help enterprises increase the efficiency of their expenses for these purposes and will stimulate interest in launching new projects," said Mikhail Mishustin.

The basic conditions remained the same:

· the maximum loan amount is 500 million rubles;

· the maximum term of the loan is 7 years;

· preferential interest rate - 3% for innovative technology companies and 5% for other enterprises.

The industrial mortgage program was launched by the Government on behalf of the President in 2022. This mechanism allows industrial enterprises to optimize the costs of purchasing new premises, and also contributes to the expansion of production, the launch of promising projects, and the creation of new jobs.

The total amount of federal funding for the program in 2023 will exceed 1.3 billion rubles, which will ensure a preferential loan portfolio of at least 45 billion rubles.