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Development Bank Gains Mandate to Independently Select Commercial Projects for Financing


The Development Bank, in accordance with Government Decision No. 414 dd. July 10, 2020, received the mandate to independently select commercial investment projects for financing. Previously, the bank worked mainly with projects included in government programs or those approved by the President or the Government.

At the same time, the Development Bank, while implementing an independent search for projects, still does not enter into competition with commercial banks. For financing, the bank selects commercial investment projects that meet one of the criteria: the amount of capital costs including VAT for the project is at least 40 million rubles, or the dynamic payback period of the project is at least 7 years. The volume of financing by the Development Bank for such projects is at least 85% of the investment costs, including VAT and the loan term is up to 15 years (but not more than the dynamic payback period of the project).

Within the framework of organizing financing, the Development Bank is ready to offer a number of products both in national and foreign currencies, not only from its own sources, but also by attracting related foreign loans, both with insurance coverage of export credit agencies, and without it (depending on the terms of attracting foreign credit lines).