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MIL OSI Translation. Region: Russian Federation –

Source: Ministry of Economic Development (Russia) – An important disclaimer is located at the bottom of this article.

The Ministry of Economic Development of Russia extended for a month, until February 20, the selection of projects under the preferential lending program within the framework of the national project “Tourism and Hospitality Industry”. This decision was made after relevant requests from businesses and meetings with authorized banks. Extending the deadline for accepting applications will allow us to support more projects, Minister of Economic Development of the Russian Federation Maxim Reshetnikov said at a meeting on the integrated development of the Caucasian Mineral Waters. “After consulting with businesses and banks, we extended the deadline for accepting applications until February 20 of this year. Although today we already have applications for 11 thousand numbers,” noted Maxim Reshetnikov. The program has added the ability to create large investment projects, in particular, year-round amusement parks, water parks and ski resorts. In general, this support measure will allow the creation of up to 48 thousand new hotel rooms and will provide the opportunity to develop new points of attraction. Applications have already been received for 46 hotel projects, as well as three applications for the development of ski resort infrastructure and one application for a water park. The geography of these projects covers 26 regions of the country. At the same time, extending the deadline for competitive selection, according to the Ministry of Economic Development, will allow the number of applications received to more than double. “We continue to accept applications and see high interest from clients in the terms of the program. According to our forecasts, extending the project selection deadline for another month will allow us to additionally support new tourism projects with a total room capacity of over 3 thousand rooms,” said Denis Bortnikov, Deputy President and Chairman of the Board of VTB Bank. “Tourism has become an important element of the ecosystem of many regions, acting as a driver of their socio-economic growth. Today we are seeing great interest from the state and investors in the development of the industry. Thus, one of the key support measures is preferential financing of tourism infrastructure in accordance with government resolution No. 141. Its demand is confirmed by the figures: the share of applications received by the bank under the lending program accounts for more than 90%,” noted Anna Malikova, head of the Tourism division of DOM.RF Bank. A business can receive a preferential loan under the preferential lending program for the construction or reconstruction of hotels with an area of ​​at least 5 thousand square meters and 120 rooms, as well as multifunctional complexes. Ski resorts that visit at least 450 thousand guests a year and year-round amusement parks and water parks with at least 1 million visitors a year can also be supported.

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Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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