Ministries of the Republic of Tatarstan Ministry of Industry and Trade of the Republic of Tatarstan

Russia’s first Labour Productivity loan approved for a Tatarstan company

17 April 2019, Wednesday

The Expert Council of the Industry Development Fund, based on the opinion of the Federal Centre of Competencies in the Field of Labour Productivity (FCC), approved the first concessional loan in the amount of RUB 80.5 million to OOO Tasma from Kazan as part of the national project titled “Labour Productivity and Employment Support”. The total project cost is RUB 151.4 million.

With the help of the IDF loan, the company plans to increase labour productivity by 25% due to the retrofitting of the barrier film production line and the introduction of new types of packaging products to the market.

The Increasing Labour Productivity programme by IDF, as one of the measures for supporting national project participants, is aimed at increasing labour efficiency in industrial enterprises by optimising the production system and increasing the efficiency of using domestic resources. Within the programme, the IDF issues loans of RUB 50 to 300 million for up to 5 years at 1% per annum. A total project budget starts from RUB 62.5 million, and co-financing by an applicant, from 20%.

A prerequisite for obtaining a target loan is the conclusion of the FCC that the company sufficiently uses internal reserves, and a further increase in labour productivity requires the attraction of additional investment.

Based on information by Tasma and FCC press services

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