The subsidiary bank of the Rostec state corporation and the Industrial Development Fund (IDF) of the Chechen Republic agreed on cooperation during the Caucasus Investment Forum in Grozny. The partnership will provide financial support to industrial enterprises and strengthen the economic potential of the region.
The document was signed by the director of the Chechen Industrial Development Fund Republic Ilyas Asuev and NOVIKOM Senior Vice President Maxim Rozov.
One of the main areas of joint work will be attracting credit funds to replenish working capital of enterprises in high-tech industries located in Chechnya. Thanks to the cooperation of the bank and the Federal Investment Fund, they will be provided with favorable financing conditions.
In addition, the fund provides grants to compensate interest on loans to organizations that meet certain criteria. The priority is projects on import substitution, digitalization of production, diversification and increasing labor productivity. NOVIKOM intends not only to finance investment projects of enterprises, but also to provide information support to clients, advising them in the process of applying for grants.
“In recent years, the Chechen Republic has demonstrated high industrial growth, re-equipping and modernizing its large enterprises. Having deep expertise in the mechanisms of state support for industry and having a wide range of financial instruments, NOVIKOM will act as a reliable partner in creating an attractive investment environment for one of the most dynamically developing subjects of the North Caucasus Federal District,” emphasized NOVIKOM Senior Vice President Maxim Rozov b>.
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