The Government of the Russian Federation has expanded the conditions for industrial mortgage lending

"Industrial mortgage" can be issued for the construction, modernization and reconstruction of production facilities. The resolution was signed by Prime Minister of the Russian Federation Mikhail Mishustin. The project was prepared by the Ministry of Industry and Trade of Russia on behalf of the President of the Russian Federation.

The expanded Industrial Mortgage will help provide Russian industrial enterprises with modern production facilities necessary for the accelerated launch and implementation of industrial projects. Taking into account the offers of banks, borrowers have the opportunity to receive preferential loans for several specified purposes within a certain limit of 500 million rubles. Industrial Mortgage also extends to the acquisition of construction in progress.

The implementation of the "Industrial mortgage" makes it possible to provide enterprises with loans at a rate of no more than 5% per annum to create new or expand existing industries.

This year, the Government of the Russian Federation allocated more than billion rubles additionally for the implementation of the Industrial Mortgage mechanism. Residents of industrial parks, technoparks and SEZs can also use this mechanism.