Industrial Development Fund was established for modernization of the Russian industry, creating new industry sectors and supporting import substitution. The Fund was launched in 2014 on the initiative of the Ministry of Industry and Trade of the Russian Federation.
The Fund offers preferential conditions for co-financing projects aimed at the development of new high-tech products, modernization and creation of competitive production processes on the basis of the best available techniques.
For the implementation of industrial technology projects the Fund provides targeted loans of between 50 and 500 million rubles at the rate of 1% and 5% p.a. for up to 7 years on a competitive basis, attracting direct investments into the real sector of the economy.
In addition, the Fund is an operator of special investment contracts.