Donetsk, Dec 7 — DAN. The Donetsk People’s Republic Industry Development Fund (FRP) has approved six concessional loans worth 300 million rubles for regional companies, FRP Director Sergei Vlasov told the Donetsk News Agency on Thursday.
“As of today, the Fund has received 24 applications requesting a total of 1.2 billion rubles worth of loans, ” Vlasov said. “Six loans to the tune of 300 million rubles have been approved; agreements for five projects have been concluded: we can set additional requirements when considering loan requests, such as property registration or guarantees from banks.”
The FRP expects companies to meet these terms in order to be able to conclude the agreement, he said.
The Fund has provided funding under one agreement so far; another three loans are due to be extended in the next few days. Approved projects include the production of switchboard equipment, rubber goods for agribusinesses, clothes and mineral powder for road construction, Vlasov said.
Earlier reports said that the Russian government had allocated an additional 1.132 billion rubles to the FRP DPR. The measure is expected to help create some 660 new jobs in the Republic.*jk