The IDF's Expert Council approved RUB 1.1 billion loans to seven enterprises in the Moscow, Smolensk, and Ivanovo regions, Tatarstan, Chuvashia, and the Khabarovsk Territory. The aggregate cost of projects exceeds RUB 4.7 billion; their implementation would create 355 new jobs.
OOO Organic Park, with the help of a joint loan from the IDF (RUB 59.5 million) and the Tatarstan Regional Industrial Development Fund (RUB 25.5 million), will increase the output of microbiological pesticides and agrochemicals in Kazan from 1,000 to 3,500 tonnes a year.
Before the Fund allocates funds at 5% per annum, the companies should sign loan agreements that record the parties’ obligations.
OOO Organic Park is a member of the Bionovatic Group, whose core activities are the production and introduction of agricultural preparations, such as biological plant protection products, biological fertilisers and anti-stress compositions for plant growing, entomophages, medicines and feed enzymes for livestock, soil restoration products. The enterprise sells its products and conducts experimental tests of the products in almost all Russia’s Top-30 agro holdings, and is represented in more than 26 regions of the Russian Federation.