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The "Orenburg Down Shawl" Industrial Park Project Has Received a Federal Guarantee
The project to build a Folk Art Crafts Centre in the "Orenburg Down Shawl" Industrial Park has received a federal guarantee of 210 million roubles.
On 31 March 2015, the board of JSC "Non-Bank Deposit and Credit Organisation 'Credit Guarantee Agency'" (Moscow) decided to grant a federal guarantee to the investment project for building the Orenburg Regional Folk Art Crafts Centre. The Centre will be built on the territory of the developing "Orenburg Down Shawl" Industrial Park in Orenburg.
Terms of the guarantee
The amount of the syndicated guarantee is 210 million roubles, of which 20 million roubles is a guarantee from the Guarantee Fund of the Orenburg Region. The guarantee term is 7 years.
The agency is currently concluding cooperation agreements with commercial banks and regional guarantee organisations. Under them, the agency provides state guarantees for the credit obligations of small and medium-sized businesses, as well as for the obligations of regional guarantee organisations that have stood surety to banks for loans to small and medium-sized enterprises (SMEs). The agency's strategic goals are developing the SME sector, increasing the share of small and medium-sized businesses in investment and in the structure of the Russian economy, increasing the number of high-productivity jobs and supporting priority areas of the economic policy of the state and the regions.
What will be built
The aim of the project is to build a production and administrative building for the Folk Art Crafts Centre. It will house folk art craft enterprises, light industry and the children's goods industry. Resource-saving technologies, compactness and well-thought-out logistics of the building will help achieve a competitive production cost and open up opportunities for import substitution.
The agency's decision was a landmark: it is the first federal guarantee received by Orenburg enterprises.
What this gives the project
A state guarantee reduces the credit risks of the lending bank to practically zero. Thanks to this, the investor can count on low rates on investment loans and better financial performance of the project.
Earlier, in November 2014, the "Orenburg Down Shawl" Industrial Park development project won a federal contest of the Russian Ministry of Industry and Trade and gained the right to reimbursement of the costs of creating the park.
In this way, with the support of the Administration of the Orenburg Region, federal programmes are stimulating investment activity in the region. After the Folk Art Crafts Centre is created, new production buildings are planned on the territory of the "Orenburg Down Shawl" Industrial Park as early as 2016.
