Selitskaya: "Interest rates on loans for Belarusian and Russian producers could be fixed at 4-6%"
09:00, 1 October
Photo: Soyuz.by
The Union State is developing a new financial instrument to stimulate industrial cooperation and import substitution, aimed at strengthening technological sovereignty. This was announced by Deputy State Secretary of the Union State Ella Selitskaya on the sidelines of the INNOPROM International Industrial Exhibition during the roundtable discussion "The Russian-Belarusian Cluster: A New Cooperation Mechanism," reports Soyuz.by.
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A draft regulation on subsidizing interest rates on loans for Belarusian and Russian producers is currently under review by relevant agencies. It is planned that the difference between the bank's market rate and the preferential rate of 4-6% will be compensated by funds from the Union budget.
The new support measure will apply to projects in 23 priority areas, including mechanical engineering, nuclear energy, space, software development, and artificial intelligence.
"The Union State is also approving criteria for the concept of 'Union State goods.' According to the developed standards, such goods will be defined as products with a minimum level of production cooperation between Belarus and Russia of 50%, with each country's share being at least 25%," the Deputy Secretary of State noted.
Ella Selitskaya explained that despite support from industrial and economic agencies, the project encountered difficulties in obtaining approval from financial authorities. Plans include launching pilot projects in Belarus and Russia next year to test the new support scheme and demonstrate its effectiveness.
