The Industry Development Fund (FRT) extended more than 500 million rubles worth of loans to nine companies in the Lugansk People’s Republic last month, the FRT press service reported.
“The Fund signed nine loan agreements with LPR enterprises which will use the money for current assets financing and development projects. FRT allocations in November totaled 533 million rubles,” the press service said. Loans were provided to companies in Lugansk, Alchevsk, Rovenki and the Antratsi district.
“We expect to disburse by yearend almost one billion rubles earmarked for the Fund,” FRT LPR Director Violetta Vorobyova said.
In October, the FRT provided 360 million rubles worth of loans to the LPR industrial sector.
In March 2023, the LPR government approved the establishment of the regional Industry Development Fund. It will provide support to some 20 LPR companies at the initial stage.*i