One of the problems our industrial companies used to face is poor access to "long" and cheap money. To solve this problem, at least partially, we established our Industrial Development Fund
, which I've been heading.
We offer loans to enterprises with interest rates under 5% per annum for up to 5−7 years. This is below the inflation rate, and the demand is, of course, great.
Since the very first day, we defined a few key principles, on which we are focusing now:
- Maximum transparency of our work. At our website FRPRF.RU you can find detailed information (literally to the ruble) about our budget, who we provided funds to, when and for what purpose, what is going on with those companies, and the way their projects have been and are being realized
- We focus on medium-sized manufacturing companies, they need our support the most
- A clear and transparent mechanism for the accepting projects for further financing. Our final verdict is made by an independent advisory council, composed of leaders of public associations, vice-presidents of the major banks, heads of professional associations.
- Additional services for industrial businesses and investors, consultations on various kinds of support, assistance in finding extra funding, and so on.
The main results of our work are new businesses, new projects, and I will talk about these on this page from time to time.