Russian government plans to launch the industrial mortgage
The government of Russia introduced a new tool to support the industrial sector — the industrial mortgage, said Prime Minister Mikhail Mishustin.
“Russian companies will be able to get long-term soft loans for the purchase of industrial real estate,” he explained.
According to the Russian Minister of Industry and Trade, Denis Manturov, loans for the purchase of sites provided with infrastructure will be issued for up to seven years at a reduced rate of 5% per annum. The maximum amount of a loan should be 500 million rubles (approximately $8.25 million).
“Industrial mortgages can help create the domestic production of equipment, machinery and components for the fertilizer industry and agriculture. After several Western companies left Russia, the industry faced certain difficulties in providing necessary equipment,” commented the information and analytical service of Fertilizer Daily.