Additional support worth RUB 900 mn to be provided for construction of socially significant facilities

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AK&M 13 January 2021 16:12

The construction of socially significant facilities will receive additional support from the federal budget in 2021. According to the Ministry of Construction of Russia, organizations engaged in the construction of engineering, social and transport infrastructure facilities using federal budget funds will be entitled to loans from Russian banks for early performance of obligations under public contracts. The new support tool will enable businesses to borrow for a period of up to three years at a rate of no more than 3% p.a.

Subsidies will be provided by the Ministry of Construction of the Russian Federation to compensate banks for their lost earnings. RUB 900 million will be allocated for these purposes in 2021.