The government expanded the parameters of the industrial mortgage program

The government continues to support the development of industrial production in Russia. On behalf of the President, a decision was made to expand the parameters of the industrial mortgage program. The Decree to this effect was signed by Prime Minister Mikhail Mishustin (Decree of April 3, 2023 N 526 “On Amendments to the Decree of the Government of the Russian Federation of September 6, 2022 N 1570”).

Now it will be possible to get a soft loan not only for the purchase of real estate for industrial production, but also for the construction, modernization and reconstruction of such facilities. At the same time, for objects under construction, modernized and reconstructed, a standard cost of 1 sq. m – no more than 90 thousand rubles. For acquired real estate – no more than 75 thousand rubles in Moscow, the Moscow region and St. Petersburg and no more than 50 thousand rubles – in other regions.

As before, loans under the program are issued for up to seven years at a preferential rate of 5% per annum. For innovative technology companies, the rate is even lower – 3% per annum. The difference between preferential and market rates to banks is compensated by the state. The maximum loan amount is 500 million rubles.

The industrial mortgage program was launched by the Government on behalf of the President in 2022. This mechanism allows industrial enterprises to optimize the cost of acquiring new premises, and also contributes to the expansion of production, the launch of promising projects, and the creation of new jobs. The total amount of federal funding for the program in 2023 will exceed 1.3 billion rubles, which will ensure a preferential loan portfolio of at least 45 billion rubles.

The President instructed the Government to extend the industrial mortgage program to support the construction, modernization and reconstruction of real estate for industrial production following a meeting of the Council for Strategic Development and National Projects held on December 15, 2022.

The beginning of the effect of the changes made is 04/18/2023.