The size of loan subsidies for the defense industry to produce civilian products has been increased

TASS/. The Russian government has increased the maximum annual amount of subsidized preferential loans provided to defense industry enterprises (DIC) for the production of civilian products from 200 million rubles to 600 million rubles.

The adopted decision will make it possible to provide additional support to DIC organizations implementing projects in priority areas of the civilian industry.

This concerns the production of ships, helicopters, and airplanes, machinery and equipment, including for sorting solid municipal waste, as well as locomotives, motor vehicles, metallurgical and chemical products.

The preferential lending program for DIC organizations was launched in 2018 to provide such enterprises with long-term financing within the framework of production diversification. Loans for the entire project implementation period are provided by the state development corporation VEB.RF.

The minimum loan amount is 500 million rubles, with an interest rate starting from 5% per year. Companies planning projects with a budget of 1 billion rubles or more can expect such conditions.