The head of the Ministry of the North Caucasian Federal District, Lev Kuznetsov, said during a meeting in Nevinnomyssk that the North Caucasian Federal District will receive 10 billion rubles for support of import substitution projects.
"We have a 3-year, 10-billion-ruble limit laid down in the North Caucasus Federal District to support various projects. In previous years, the practice was imperfect, and often the support element turned into an ineffective mechanism," Kuznetsov said.
According to him, support will be provided "by the Ministry of Agriculture and Trade Ministry in the form of direct subsidies, in the form of guarantees, interest rates and compensation in the form of attraction of "long money."
In addition, the Minister stressed that an urgent task is to inform the business community about the programs to support production. However, he expressed the view that "the industrial component and powerful agribusiness can become a platform for the development of import substitution" in the North Caucasus, Interfax reports.
