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Mortgage in Russia
Main article: Mortgage in Russia
Chronicle
2023
Mishustin expanded the industrial mortgage program. Now it is available when building and updating enterprises
In April 2023, Prime Minister RFMikhail Mishustin signed a decree expanding the parameters of the industrial mortgage program. Now it will be possible to get a preferential loan not only for the purchase of real estate for industrial production, but also for the construction, modernization and reconstruction of such facilities.
At the same time, the cost standard of 1 sq. m - no more than 90 thousand rubles. For the acquired real estate - no more than 75 thousand rubles in Moscow, the Moscow region and St. Petersburg and no more than 50 thousand rubles - in other regions.
Loans under the program are issued for up to seven years at a preferential rate of 5% per annum. For innovative technology companies, the rate is even lower - 3% per annum. The difference between preferential and market rates to banks is compensated by the state. The maximum loan amount is 500 million rubles.
 | We hope that the program will help enterprises increase the efficiency of their expenses for these purposes and will stimulate interest in launching new projects, - said Mikhail Mishustin at a meeting with Deputy Prime Ministers on April 10, 2023, adding that the volume of planned investments under the program in 2023 is 1.3 billion rubles, if necessary, it will be increased. |  |
The Cabinet recalled that the government was instructed by Russian President Vladimir Putin to extend the industrial mortgage program to support the construction, modernization and reconstruction of real estate for industrial production following a meeting of the Council for Strategic Development and National Projects on December 15, 2022.
At the end of March 2023, Leonid Danilov, deputy director of the regional industrial policy department of the Ministry of Industry and Trade, said that the first months of the program showed a great demand for business specifically for construction, reconstruction, modernization. In the new version of the promipotek mechanism, the condition for launching production in new areas after modernization will remain for three years, he said.
GOVERNMENT OF THE RUSSIAN FEDERATION RESOLUTION No. 526 dated April 3, 2023
Mishustin allocated 1 billion rubles for the industrial mortgage program
At the end of March 2023, Prime Minister Mikhail Mishustin signed an order, which allocated more than 1 billion rubles to support the industrial mortgage program. According to the head of government, this will allow enterprises to receive preferential borrowed funds for the purchase of production space as a whole in the amount of more than 45 billion rubles, which will be a significant help.
According to the press service of the Cabinet, the industrial mortgage program aroused great interest from business. This mechanism allows industrial enterprises to optimize the cost of purchasing new premises, and also contributes to the expansion of production, the launch of promising projects, the creation of new jobs. Loans under the program are issued for up to seven years at a preferential rate of 5% per annum. For innovative technology companies, the rate is even lower - 3% per annum. The maximum loan amount is 500 million rubles. The difference between preferential and market rates to banks is compensated by the state. Taking into account the funds allocated by the order, the total amount of subsidies for the program in 2023 will exceed 1.3 billion rubles.
In early April 2023, the government announced that proposals would be prepared in the near future to expand the parameters of industrial mortgages. It is assumed that it will be possible to obtain a preferential loan not only for the purchase of real estate for further industrial production, but also for the construction, modernization and reconstruction of such facilities.
| | From April 2023, the mechanism will be expanded. Investors will be able to issue a promotional policy not only for the purchase of finished production premises, but also for the construction, modernization, reconstruction of real estate objects to launch industrial production, - said the Deputy Prime Minister of the Russian Federation - Minister of Industry and Trade Denis Manturov.[1] | |
2022
Industrial mortgage launched in Russia
On September 5, 2022, the Government of the Russian Federation announced the launch of an industrial mortgage. It will allow businesses to receive long-term preferential loans for the purchase of industrial real estate.
| | We expect that such a tool will allow industrial enterprises to optimize the cost of purchasing new premises - but this, as a rule, is a very costly part of the estimate - to support interest in expanding production, launching promising projects, creating new jobs, - said Prime Minister Mikhail Mishustin, whose words are quoted in the official Telegram channel of the Cabinet. | |
The head of the Ministry of Industry and Trade Denis Manturov said that loans will be issued for up to seven years at a rate of 5%. For innovative technology companies, the rate will be 3%. The selection of participants will take place in the fourth quarter. The authorities expect that the program will speed up the launch of production of about 2 thousand types of raw materials, materials and components. The upper limit of industrial mortgages is proposed to be set at 500 million rubles, the head of the Ministry of Industry and Trade said.
| | This amount will fully ensure the acquisition of up to 10,000 square meters of production real estate. About so much is enough to accommodate a small - medium-sized plant or several workshops of a large enterprise, - he said. | |
The Cabinet of Ministers expects that industrial mortgages will allow enterprises to optimize the cost of purchasing new premises, which are very expensive, and expand production.
According to Mikhail Mishustin, "it is obvious absolutely that the new tool will be in demand, it is interesting for business."
At the end of July 2022, Дом.РФ Bank launched its own program for issuing loans to businesses for the purchase of real estate for industrial purposes at a rate of 6.25% per annum.[2]
Putin announced an industrial mortgage in Russia
On June 17, 2022, Russian President Vladimir Putin made a proposal to introduce an industrial mortgage in the country. The Russian government has already begun work on this initiative.
| | In order for the domestic business to quickly deploy the production of the necessary products, I propose to launch a fundamentally new tool - an industrial mortgage. We are talking about preferential long-term loans at a rate of 5% per annum, "Putin said at a plenary meeting of the St. Petersburg International Economic Forum. | |
We are talking about preferential long-term loans for enterprises that plan to buy ready-made areas for production, the president explained. According to the head of state, in order to increase the production of domestic industrial products of mechanical engineering, service equipment, household appliances, it is necessary to create comfortable conditions for the operation of enterprises and ensure the availability of production sites.
| | I ask the government, without delaying, to work out all the details with the banking sector of Russia, so that in the near future the industrial mortgage will work in full, - said the Russian leader. | |
Putin also instructed the Cabinet to develop key parameters of the new operating mode of industrial clusters by the fall. They can earn from the beginning of 2023. Manufacturers here must issue preferential loans for up to 10 years at a rate of no more than 7% per annum, the president said.
On June 6, Prime Minister Mikhail Mishustin instructed the Ministry of Industry and Trade, the Ministry of Finance, and the Ministry of Economic Development, with the participation of the heads of a number of constituent entities of the Russian Federation, to work out the issue of launching an industrial mortgage in Russia.
According to Sergei Katyrin, Chairman of the Chamber of Commerce and Industry of Russia, in the current conditions of sanctions pressure on Russia, such a measure is in great demand by domestic entrepreneurs and will allow creating a new production base for the country's small industrialization in a short time.[3]
Notes
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