The Industrial Development Fund (IDF), with the support of the Russian Ministry of Industry and Trade, is launching a new preferential loan financing program "Ship Leasing". These measures will contribute to the renewal of passenger, cargo, fishing, and technical vessels by providing benefits to leasing companies. This was reported to "Pervy Tekhnichesky" by the IDF press service.
Under the program, the IDF will start providing preferential loans of up to 3 billion rubles at a rate of 1% (for civil vessels) or 3% per annum (for cargo, fishing, technical vessels) for a period of up to 25 years, depending on the type of vessel.
The minimum loan amount is 100 million rubles. At the same time, the loan amount should not exceed 97% of the cost of building a passenger vessel and 90% for cargo, fishing, and technical vessels.
The weighted average cost of leasing vessels built under this program will not exceed 4.5% per annum for passenger vessels and 8% per annum for other vessels. For example, when building a passenger vessel with a cost of 1 billion rubles, the loan amount can reach 970 million at a rate of 1% per annum for a period of up to 25 years. The remaining 30 million rubles are funds from the leasing company or the lessee.