The Ministry will choose banks concessional lending for projects in the Arctic

The Ministry will choose banks concessional lending for projects in the Arctic

The Ministry of Development of the Far East and the Arctic has started selecting Russian banks to participate in the program of preferential lending to residents of the Arctic zone of the Russian Federation. Applications are accepted from February 9 to March 11, 2021.

The program of preferential loans is another measure of support for businessmen working in the Arctic. Residents of the Arctic zone will have access to a loan rate below the market rate by one and a half times the key rate of the Central Bank of the Russian Federation.

"We have already registered 19 residents of the AZ of the Russian Federation, the list is constantly updated. The opportunity to get a loan on preferential terms will be an additional incentive for polar entrepreneurs – " explained Olga Kuznetsova, Deputy Governor of the Murmansk Region. "Moreover, the basic conditions are transparent and clear: the investor must provide new jobs, the project cost is from 10 million rubles, of which at least 30% is own funds."

The results of the selection of banks will be published on the official website of the Ministry of Regional Development of Russia until May 5, 2021.