Donetsk, Nov 15 — DAN. The follow-on capitalization of the Industry Development Funds in the Donetsk and Lugansk People’s Republics and the Zaporozhye and Kherson regions this year will help create 660 new jobs, said Russia’s Industry and Trade Ministry.

“The Ministry replenished the industry development funds in the new Russian regions with 2.9 billion rubles as part of the socio-economic development program, which will help create some 660 new jobs, ” the Ministry’s press service told the Donetsk News Agency.

The Funds are offering working capital loans worth up to  100 million rubles at an interest rate of 1 percent for seven years and at 2 percent for three years, as well as grants up to 50 million rubles to companies with government stakes,

In June, more than 2.9 billion rubles were allocated to the Industry Development Funds of the four new regions. The DPR Industry Development Fund which received over 1.1 billion rubles extended the first loan to the Donetsk-based Berver furniture factory.*jk