Chilingarov: Association of polar explorers offers to support all Arctic investors without exception

On August 9, Prime Minister Mishustin discussed with Nikolai Zapryagaev, Director General of the Far East and Arctic Development Corporation, the implementation of a set of measures to support entrepreneurs and noted that it is very important to pay attention to the needs of every investor, including in the face of sanctions.

President of the Association of Polar Explorers Arthur Chilingarov commented on the results of the meeting: "The resolution which we issued based on the results of the XI International Forum "Arctic: the present and the future" included more than 900 proposals on how to improve living standards in the Arctic and almost 10% of them concerned with improving the investment climate. It was not just about what conditions large companies need, but also about supporting small and medium businesses. 

Zapryagaev said that more than two trillion rubles were invested in the development of the region 500 new enterprises in the Arctic and the Far East.  There are more than 5,000 new investment projects in the corporation's portfolio totaling 6 trillion 600 billion rubles. Three quarters of these funds are invested in processing - in petrochemical companies, agrocomplexes, and fish farms. 

To support investors, the Government has approved a program for subsidizing interest rates for projects just in the investment phase for the Far East and the Arctic. The first 10 projects are already receiving this support, and 15 more will receive this support by the end of the year, amounting to about 10 billion rubles in total.