FEDF reduces cost of financing for Far East projects from 11% to 5% of p.a.

The Board of Directors the Far East Development Fund has approved the revised Memorandum of investment activities. Under the newly approved decision, the cost of capital for initiators of projects in the region has been reduced from 11% to 5% per annum in Rubles, says press center of the Ministry for the Development of the Russian Far East.

According to Aleksandr Galushka, Minister for the Development of the Russian Far East, lower rates means a wider range of projects and can prove to be efficient for implementation in the Far East of Russia.

“This year the Fund will pursue a more aggressive investing policy. For this purpose we are going to modify the rules, readjust the investment processes to become a more efficient institution in the region. Reduced cost of the capital is just a single step in this direction,” Said Aleksei Cherkunov, Director General of the Fund.