Low-margin projects will be able to receive project financing at a preferential rate

This was stated by the Deputy Minister of Construction, Housing and Communal Services of the Russian Federation Nikita Stasishin at the panel discussion "Business and Power: What is Needed for the Development of the Industry Today", which was held by Sberbank of Russia on September 17. Speaking about further prospects for supporting the construction industry, Deputy Minister of Construction of Russia Nikita Stasishin spoke about a new mechanism that will be introduced in the near future. “There are projects in the regions of Russia that are worthy of receiving project financing, but have low profitability. Soon another support mechanism will begin to operate - subsidizing rates for low-margin projects when receiving project financing, in which the profitability does not exceed 15%. The legal framework has already been formed, the Government is redistributing budget funds for this program. We prepared it together with the Central Bank of the Russian Federation, with the Sberbank of Russia. The amount of funds in the program, of course, will not yet be able to cover absolutely all low-margin projects, but I hope that the first results will show the necessity and benefit of this support measure," - said Nikita Stasishin, Deputy Minister of Construction of Russia.