Meeting with Industrial Development Fund Director Roman Petrutsa

President of Russia Vladimir Putin: Good afternoon.

Mr Petrutsa, the Industrial Development Fund was established in 2014.

Director of the Industrial Development Fund Roman Petrutsa: Yes.

Vladimir Putin: The terms for supporting businesses are really good - one, three, five percent interest for up to 10 years and a sum from 5 million to 5 billion. This is a good programme on the whole.

As far as I understand, the results are also worth discussing. You can use these results to report on all these years. Let's talk about that.

Go ahead, please.

Roman Petrutsa: Mr President, thank you very much for this opportunity to tell you first-hand about the Fund.

Indeed, the Industrial Development Fund provides Russian industrial companies, the real economy, with loans on unique terms - one, three and, under one programme, five percent interest for the longest possible periods - five, seven and ten years.

And you are right - there are hundreds of projects every year. This year alone, we are confidently moving to the figure of 250 loans worth over 100 billion rubles - this is an enormous sum for us. During the Fund's operation, we have already financed almost 1,200 projects in 74 regions of the country.

I believe a key factor behind the high demand for the Fund's support measures is that they fully meet the industry's need for long and cheap money for development.

To be continued.

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