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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.

It is planned to make the mechanism for providing additional support to SMEs in the Kaliningrad region permanent. This was announced by Minister of Economic Development Maxim Reshetnikov at a meeting on the socio-economic development of the Kaliningrad region under the leadership of Russian President Vladimir Putin. A subsidy in the amount of 5.5 billion rubles was provided to the Russian Ministry of Economic Development of the Kaliningrad Region for investment projects at the end of 2022. Thanks to it, more than 80 investment projects of small and medium-sized businesses were supported in 2023; at the current stage, they have already created 500 jobs and another 1,500 should appear by the end of the year. “All companies have started implementing projects and 24 projects have already been put into operation,” said Maxim Reshetnikov. – Considering that these funds are repayable, that is, business will gradually return them to the region, we agreed with Anton Andreevich Alikhanov that we will make this support mechanism permanent. There will be a revolving fund, and at the expense of them the region will then continue to support SMEs.” As a result of the selection, more than 80 investment projects received preferential loans in the amount of up to 300 million rubles at 2% per annum for 7 years with the possibility of a three-year deferment of payment of the principal debt. Governor of the Kaliningrad Region Anton Alikhanov noted the timely nature of such support in the context of unprecedented sanctions faced by the Kaliningrad Region. “This is an example of the special attitude of the federal authorities towards our region. In this way, one of the largest preferential financing programs was implemented in the Kaliningrad region; more than 80 new investment projects were launched. Thanks to the decision of the President and the coordinated work of the Russian Ministry of Economic Development, these funds were very quickly brought to the region,” noted Anton Alikhanov. The number of borrowers included investment projects for the production of electrical equipment, plastic products, fertilizers, paper packaging, composite windows, furniture, cosmetics, and amber products. Three borrowing companies allocated support funds for the purchase of cargo ships to strengthen the strategically important sea line between the Kaliningrad region and “big” Russia in the context of restrictions on land cargo transportation. The total budget of the program amounted to 5.8 billion rubles, of which 5.5 billion rubles were generated from federal subsidies received through the state program “Socio-economic development of the Kaliningrad region”. The program was implemented in support of the presidential national project “Small and Medium Enterprises,” which is supervised by First Deputy Prime Minister Andrei Belousov. The Baltenergoservice company received 40 million rubles. The investor invested them in the purchase of equipment for the production of electrical panel equipment at his industrial site in the Khrabrovo industrial park. This project can almost completely replace import supplies of similar equipment for the region. “We built the main enterprise with our own funds. To expand the production line, they applied for a loan and completely localized their production. Now it will be easier and faster for us to produce products here, without waiting for the supply of these components from the territory of “big” Russia,” commented Alexey Pavlikov, general director of the Baltenergoservice company.

Note; This information is raw content directly from the source of the information. This is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

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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