Government of the Tver region to allocate 189 million rubles from the regional public funds to support investment projects in the field of value-added wood processing 

The funds are intended to facilitate the development of the timber industry in the region. Starting from 2021, timber enterprises will be provided with soft loans for the purchase of industrial and harvesting equipment and the construction of new buildings and facilities, as well as subsidies from the regional budget to reimburse a share of the interest on the loans used for the implementation of investment projects.

Soft loans will be granted by the Industrial Development Fund at 1.5% per annum for up to 5 years, the loan amount will be up to 50 million rubles.