Alexey Pesoshin holds meeting of the Supervisory Board of the Investment and Venture Fund of the Republic of Tatarstan

On August 4, at Tatarstan Cabinet of Ministers, Prime Minister of the republic Alexey Pesoshin held a meeting of the Supervisory Board of the Investment and Venture Fund of the Republic of Tatarstan.

The meeting considered issues related to the Fund's activities. In particular, the Board reviewed the Fund's reporting documents for 2016. Director of the Fund Ainur Aideldinov made a report on the annual statement.

The second part of the meeting focused on the regional Industrial Development Fund, the powers of which have been vested to the Investment and Venture Fund of the republic since last year.

The Investment and Venture Fund of the republic together with the Federal Industrial Development Fund will co-finance projects at 5 per cent interest per annum under the Development Projects programme. The Supervisory Board considered two projects from Tatarstan, one of which was approved. Financing will be possible provided that the project is co-financed by the expert council of the Federal Industrial Development Fund, a decision to be taken later in Moscow.

Deputy Director of the Investment and Venture Fund Fanis Khakimullin presented new versions of the regulations of the Development Projects programme concerning the selection of projects and the return of loans. The new versions of the documents were developed by analogy with the Industrial Development Fund standards and taking into account the adjustments made by the federal partner this year.