EAEU Entrepreneurs will receive financial and non-financial assistance for investment projects with integration effect
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- Category: Digest
Eurasian Development Bank, Russian Export Center, Organizing Committee of the competition “Regions – Sustainable Development” decided to conduct the annual international selection of investment projects “Eurasian Competition “Integration”.
It is planned that the first selection of projects will begin on September 1, and will last until December 1, 2020. When selecting projects, emphasis will be placed on high-tech industries, agribusiness, and the construction of infrastructure.
The Eurasian Integration competition will provide for a number of forms of financial and non-financial support for projects, including:
- Investment financing;
- Insurance products at the investment and operational stages of the project;
- Financial and operational leasing;
- Trade finance;
- Consulting services;
- Consulting services, including the structuring of export projects;
- Receipt by the initiator of the investment project of national support measures on the part of the EAEU member states.
Basic criteria for initiating projects:
- Implementation of an investment project in the EAEU state with the involvement of at least one technological, financial partner from another member state;
- Funding is allocated for the creation of a new construction project, the modernization of existing facilities, the launch of new products (services), the digitalization of industrial, infrastructure, industrial and other facilities;
- Amount of financing;
- From 50 million rubles;
- Amount of the initiator’s own participation in the project is from 20%;
- Loan term – up to 15 years.
“Cooperation in the implementation of investment projects in our countries opens the way to wide opportunities for both industrial and scientific-technical cooperation, and for increasing mutual direct and debt investments”, said Artak Kamalyan, Minister for Industry and Agriculture of the EEC.
As REC Director General, Veronika Nikishina added, in a difficult period for the global economy, it is necessary to restart the investment cycle, which can be implemented in cooperation between governments, development institutions and the largest financial organizations of the EAEU.
“Taking the initiative to launch the Eurasian Competition “Integration”, we are creating additional tools and prerequisites for the development of integration processes between the EAEU member states in the “post-coronavirus” period, support for investments and partnerships between entrepreneurs of states belonging to the Eurasian Economic Union”, said the chairman Organizing Committee of the Competition “Regions-Sustainable Development” Anna Belichenko.