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Business in Sevastopol: preferential loans to FEZ participants are now provided by seven banks

Business in Sevastopol: preferential loans to FEZ participants are now provided by seven banks

CrimeaPRESS reports:

The Russian Ministry of Construction has expanded the list of authorized banks under the preferential lending program for participants in the free economic zone in the Republic of Crimea and the city of Sevastopol. Now the borrower can apply for a loan from any of seven banks: Promsvyazbank, JSC AB Rossiya, VTB Bank, RNKB Bank, JSC Genbank, Sberbank, VEB.RF. These changes will expand access to preferential financing. Investors will be able to obtain a loan to implement investment projects in priority sectors of the economy. Legal entities and individual entrepreneurs who have a valid agreement on the conditions of activity in a free economic zone with a capital investment of 30 million rubles or more are entitled to receive preferential financing. The loan amount is from 10 million to 10 billion rubles, the term is up to 10 years. Loans are provided at an interest rate not exceeding the key rate of the Bank of Russia and can be used for capital investments, such as the acquisition of fixed assets, their creation, construction or reconstruction.

An increase in participants in the preferential lending program will provide the most convenient access to credit funds provided at a preferential rate. To date, seven authorized banks have become participants in the program in Sevastopol. Thanks to this program, Sevastopol investors can significantly increase the volume of investments in projects – the press service of the Government of Sevastopol quotes the first deputy director of the city’s economic development department, Alexey Popov.

In total, 381 investment projects are currently being implemented by participants in the free economic zone in Sevastopol. It is expected that by the end of 2023, the total volume of loans provided to Sevastopol and Crimean investors under the program will exceed 30 billion rubles. On the peninsula, using loans with state support from private investors, resort and health complexes are being reconstructed, a winter sports school is being built, mobile communications infrastructure is being modernized, and other projects significant for the socio-economic development of the regions are being implemented. As a result of the implementation of projects already supported under the program, more than 5.5 thousand jobs will be created in the regions.

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Please note that the preferential lending program for FEZ participants came into force on January 1, 2022.

source: press service of the Government of Sevastopol

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