From 2022, the FEZ residents will be able to receive preferential loans in Crimea

From 2022, the Free Economic Zone (FEZ) residents will be able to receive preferential loans for the implementation of investment projects in Crimea. The difference between the preferential rate and the market rate will be reimbursed to banks by the state. The rules for granting subsidies for these purposes were approved by Prime Minister Mikhail Mishustin, according to the website of the Government of the Russian Federation.

"The preferential rate will be equal to the difference between the interest rate under the loan agreement and the key rate of the Central Bank on the date of conclusion of the loan agreement. The loan amount is from 10 million to 5 billion rubles. The volume of planned investment in the project should be at least RUB 30 million. The term of the loan will depend on the specific investment project," the message is said.

Residents of the FEZ who work in priority areas for the Crimea will be able to receive such a loan. For example, their activities may be related to crop production and animal husbandry, food production, clothing, medicines, rubber and plastic products, glass, computers, vehicles, electronic and optical products, waste collection and disposal, processing of secondary raw materials.

As well as there are the construction of buildings and engineering structures, entertainment and tourism activities, the provision of social services, activities in the field of education and healthcare in the list.

A special commission will approve the list of banks that will be able to issue preferential loans to Crimean investors.The Ministry of Economic Development will be formed.

In 2022-2024, it is planned to allocate up to RUB 1 billion annually to provide subsidies to Russian banks to compensate for lost income on loans issued to FEZ participants.
The solution will help to increase the investment attractiveness of the region, to increase the inflow of capital investment into its economy, to create new jobs and modern infrastructure.

The Free Economic Zone has been operating on the territory of the Republic of Crimea and the city of Sevastopol since 2015. For its residents, reduced income tax rates have been established, as well as reduced rates of insurance premiums.