Applications Are Welcomed Under The New Program “Digitalization of Industry”

The Ministry of Industry (Minprom) informs that the Federal Fund of Industry Development (FID) has started receiving applications under the new program “Digitalization of Industry”. The Program is aimed at implementation of digital and technological solutions. The new measures are to optimize processes at the enterprise.

The “Digitalization of Industry” Program will be of interest to companies of widest circle of industries since it is vectored to optimization of existing productions due to implementation of digital technologies rather than building specific products.

Under the Program the producers could get loans from RUB 20 mln up to RUB 500 mln for up to 5 years. Total budget of projects starts from RUB 25 mln. At this, the co-financing of an applicant, private investors or banks should be not less 20% of the project budget.

Under the new project, the interest is diversified and depends on the project. It could be 1% or 5%. The interest in 1% is applicable if domestic software is bought at more than 50% of the borrowed funds or if a system integrator is involved by a key contractor of Russian residence. This key contractor should be included in ratings of largest IT companies which are published in RBC+, CNews or TAdviser. Otherwise, the FID standard rate of 5% is applied.

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