VEB.RF started accepting applications for financing projects from single-industry towns
Starting today, the state corporation VEB.RF has opened the acceptance of applications from entrepreneurs from single-industry towns. Now they have access to loans for investment projects up to 1 billion rubles and funds for co-financing infrastructure up to 750 million rubles.
It should be reminded that earlier the single-industry towns were supported by the specialized development institute – the non-profit organization “Monotowns Development Fund”. In 2020, the Government of the Russian Federation, as part of the reform of development institutions, decided to liquidate the Fund. His powers were completely transferred to VEB.RF.
Thus, according to the procedure for financing projects from single-industry towns approved by the Supervisory Board of VEB.RF, entrepreneurs can count on:
1. credits:
• from 5 million rubles to 1 billion rubles at 1% per annum for up to 15 years (under the guarantee of the SME Corporation or a bank guarantee);
• from 250 million rubles to 1 billion rubles at 5% per annum for up to 15 years (on collateral and other security);
• from 5 million rubles to 50 million rubles at 0% per annum for up to 4 years for current activities (for single-industry towns with a Federal emergency regime);
• from 5 million rubles to 250 million rubles at 0% per annum for up to 15 years for capital investments (for single-industry towns with a Federal emergency regime).
2. irrevocable co-financing:
• infrastructure facilities for investment projects - up to a maximum of 750 million rubles (VEB.RF co-finances up to 95% of the total cost of the facility)
• social infrastructure facilities for single-industry towns with a population of up to 50 thousand people - up to a maximum of 750 million rubles (VEF.RF co-finances up to 50% of the total cost of the facility).
Requirements for the initiator of an investment project, as well as the necessary package of documents for receiving funds from VEB.RF, can be found here.