Since its launch in 2014, the Industrial Development Fund (IDF) has supported 594 projects in mechanical engineering, which is more than a quarter of all funded initiatives. The total amount of investments in the industry reached about 300 billion rubles, said Roman Petrutsa, director of the IDF.
He noted that mechanical engineering confidently leads among industries in terms of the number of projects and the amount of funding. Every fourth project financed by the fund belongs to this area, while mechanical engineering projects account for over 40% of the entire IDF portfolio. Other leaders include the chemical industry with 299 projects worth 93 billion rubles and medical biopharmaceuticals - 269 projects worth 65 billion rubles.
The IDF was created on the initiative of the Ministry of Industry and Trade of the Russian Federation on the basis of the Russian Technological Development Fund. It provides concessional loans at 3% and 5% per annum for a period of up to seven years, ranging from 5 million to 2 billion rubles. Special attention is paid to regional projects: for this purpose, there is a network of regional funds that stimulate investment in the constituent entities of the Russian Federation.