Russian Telecom Equipment Manufacturers to Get Extended Access to Preferential Financing

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Russian telecommunications equipment manufacturers are set to gain expanded access to preferential financing, according to TASS citing the Ministry of Industry and Trade.

"To stimulate the localization of telecommunications equipment production in Russia, a range of state support measures is being implemented. In addition to existing tools, the new phase will focus on expanding access to preferential financing," the ministry stated.

One of the key mechanisms will be loans from the Fund for the Development of Industry (FRP). Companies included in the register of radio-electronic industry enterprises will be granted tax and insurance benefits.

"The combination of these measures - preferential loans, FRP funding, and tax benefits - is designed to create a stable financial ecosystem for the development of domestic developers and manufacturers of telecom equipment," the ministry added.