The Lugansk People’s Republic Industry Development Fund has allocated more than 400 rubles for seven industrial sector projects, the LPR Industry and Trade Ministry press service reported.
“About 50 percent of the money (287 million rubles) has been disbursed in 2023,” LPR Industry and Trade Minister Timur Samatov said adding that funding had been provided to all companies that had concluded agreements with the Fund.
Two companies received a loan at an interest rate of 1 percent and another four are being retooled. “The Working Capital” program offers loans of five to 100 million rubles at a 2-percent interest rate,” the Fund said.
As of September 14, 2023, the LPR Industry Development Fund had received 25 applications for financial support.
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In March 2023, the LPR government approved the establishment of the regional Industry Development Fund. It is expected to support some 20 LPR companies at the initial stage.*i
