Russia establishes Industry Development Fund

3rd September 2014

The Fund will be formed on the basis of the Russian Foundation for Technological Development, which is transmitted into the jurisdiction of the Ministry of Industry and Trade

Russian government decided to establish Industry Development Fund. The corresponding decree signed by the Prime Minister of the Russian Federation Dmitry MEDVEDEV was published on the website of the Cabinet.

The main goal of the new institution is to grant loans on the stage of pre-banking financing of industrial enterprises (research and development activities, feasibility and financial feasibility studies, design and survey works).

Industry Development Fund will be established on the basis of the Federal State Autonomous Institution “Russian Foundation for Technological Development”, which by a signed decree is passed from the jurisdiction of Russian Ministry of Education and Science to Russian Ministry of Industry and Trade.

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