NOVIKOM, a subsidiary bank of the Rostec state corporation, will provide financing to the largest Russian developer and manufacturer of microelectronics, the Element group of companies, in the amount of RUB 3 billion on individual preferential terms. In accordance with the agreement signed during the Army-2024 forum, the funds will be used to develop the production of advanced electronic component base at the enterprises of PJSC Element.
The document was signed by NOVIKOM Chairman of the Board Elena Georgieva and President, Chairman of the Board of PJSC Element Ilya Ivantsov.
The bank will provide financing for the company's activities at a rate of 3% per annum as part of specialized government support measures. The funds raised will allow PJSC Element to increase the production of electronic components at the group's existing enterprises.
«NOVIKOM systematically develops cooperation with enterprises in high-tech sectors of the domestic economy. I am confident that the support of PJSC Element will take the production of domestic microelectronics to a new level. For our part, we are ready to provide our partners with the most favorable lending terms for the most effective implementation of projects to achieve technological independence of the domestic industry,» noted Elena Georgieva, Chairperson of the Board of NOVIKOM Bank and Curator of the Voronezh Regional Branch of Soyuzmash of Russia.
«The agreement with NOVIKOM gives us the opportunity to use an open credit line to implement the program for the development of our enterprises on preferential terms and to provide the Russian market with modern domestic electronic components,» emphasized Ilya Ivantsov, President and Chairman of the Board of PJSC Element.
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