Alikhanov opposes changing support terms for approved industrial projects

Russian Industry and Trade Minister Anton Alikhanov opposed changes to subsidised lending terms for industrial projects that have already been approved. He warned a State Council industry commission meeting that revisions could halt their implementation.

The cluster investment platform covers 70 approved projects with capital investment exceeding 2 trillion roubles, the minister said. His ministry intends to press for the existing funding commitments to be maintained.

Alikhanov rejected a proposal to apply a phased budget spending prioritisation mechanism retrospectively to selected projects. He said some were already halfway through implementation and could not be completed without the support terms originally offered.

The minister said the platform was designed for complex projects that could not proceed without subsidised financing. In his assessment, credit conditions have not improved since the mechanism was introduced.