Preferential Credit Granting for Digitalization of Industrial Enterprises

The Industry Development Fund (IDF) has launched a lending program for enterprises that adopt digital technology. ICL Group entered the TOP of Russian integrators, the cooperation with which allows companies to qualify for a preferential interest rate of 1% per annum.

The preferential interest rate of 1% will also be available when purchasing domestic software worth more than 50% of the loan amount.

Any industrial enterprises, with exception of oil, food and alcohol ones, can join the program.

According to Roman Petrutsa, Head of IDF, the Fund will give loans from RUB 20 to 500 million for up to 5 years. At the same time, the cost of projects should be at least RUB 20 million and the applicant should provide at least 30% of the project budget. The Head of the Fund also noted that in general, this lending program is aimed at optimizing existing production facilities by introducing digital technologies.