PM: Russia to provide 10 tln rbl more for import replacement

MOSCOW, Apr 17 (PRIME) -- The Russian government will introduce new support measures to produce pharmaceuticals, equipment, unmanned aircraft and automotive equipment, to develop and test software to ensure 10 trillion rubles of additional financing, Prime Minister Mikhail Mishustin said during a meeting with his deputies on Monday.

“The government continues to design systemic solutions to help local companies establish production of necessary components… According to the president’s orders, we will add another support measure,” he said.

Mishustin said that the government will create a register of projects to ensure the economy’s structural adaptation and increase the level of localization to reduce dependence on the components from the unfriendly states.

“Such projects will enjoy special approach during credit approvals, a lower interest rate and more active participation of our development institutions,” he said.

“This will ensure up to 10 trillion rubles of additional financing for expansion of the promising industries, will help us replace supplies of deficit materials, spare parts, equipment, to reorient our transport and logistics network flows and produce competitive products, primarily at our domestic enterprises.”

(81.5045 rubles – U.S. $1)

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