The Industrial Development and Venture Investment Fund of Nizhny Novgorod Region (FRPVI NO) is a regional development institution that provides concessional financing for investment projects in the manufacturing sector. It was created by converting the non-profit organization "Fund for Promoting the Development of Venture Investments in Small Enterprises in the Scientific and Technical Sphere of Nizhny Novgorod Region"; in December 2016, by order of the Government of Nizhny Novgorod Region, it was granted the functions of a regional Industrial Development Fund.[1] It is located in Nizhny Novgorod at: 117 M. Gorky Street, office 1204.[5]

Objectives and Programs

The Fund's main objectives are issuing loans, providing financial and other support to entities operating in the industrial sector, and supporting organizations that carry out scientific, scientific-technical, and innovative projects.[1] The Fund implements both its own financing programs and joint programs with the Federal Industrial Development Fund (FRP of Russia), and also advises enterprises on obtaining federal loans.[4]

The current regional programs include "Production Support" (loans of 15 to 55 million rubles at 3% or 5% annual interest for up to 5 years), "Production Stability" (20 to 55 million rubles at 8% or 12% for up to 3 years), "Production Resilience" (15 to 20 million rubles at 8% or 12% for up to 2 years), "Radio-Electronic Industry" (15 to 55 million rubles at 3% or 5% for up to 5 years), as well as joint regional-federal loans of 20 to 200 million rubles at 3% or 5% annual interest.[5] A condition for receiving a loan is that its amount may not exceed 50% of the project budget; at least 50% must be covered from non-state sources.[1]

Cooperation with the Federal FRP

In June 2017, the Fund signed a cooperation agreement with the Industrial Development Fund of the Russian Federation in Moscow. On behalf of the federal FRP, the agreement was signed by Deputy Director Sergey Vologodsky; on behalf of the regional fund, by Director Alexey Nazarov.[1] The agreement provided for the possibility of joint concessional financing: loans of 20 to 50 million rubles at 5% annual interest for up to 5 years, with 70% of the loan amount covered by the federal FRP and 30% by the regional one.[1] In 2017, 95 million rubles were allocated from the regional budget to implement the program, which made it possible to support about 10 projects with a total value of 316.6 million rubles and to attract a further 221.6 million rubles from the federal FRP.[1] According to the estimate of Industry Minister Maxim Cherkasov, total investment in the region's industrial projects, taking private co-financing into account, could amount to more than 630 million rubles.[1]

By August 2017, the Fund had received applications totaling over 320 million rubles, but no project had yet received funding: all applications were undergoing a comprehensive review — scientific and technical, production and technological, financial, and legal.[2][3] Director Alexey Nazarov noted that since 2015, Nizhny Novgorod enterprises had submitted 41 applications directly to the federal Industrial Development Fund, and that lowering the minimum amount of a joint loan from 50 to 20 million rubles broadens access to support for smaller companies.[1]

Results

By 2022, the Fund had been recapitalized to 1 billion rubles through federal economic support measures; by then, the federal and regional funds had jointly supported 61 projects totaling 12.88 billion rubles, of which 27 projects were aimed at import substitution. Concessional loans went to enterprises in the automotive, machine-building, shipbuilding, and light industry sectors.[4] In particular, in November 2022, Oka Shipyard received a 20-million-ruble loan under the "Production Stability" program.[4]

According to the Fund's official website, total support exceeded 47.9 billion rubles across 263 funded applications; expected investment in the regional economy will amount to 88.8 billion rubles, future tax revenues to 35.3 billion rubles, and the number of new jobs to about 2,947.[5] In September 2026, the Industrial Development Fund signed a cooperation agreement with the State Industrial Development Fund of Kirov Region.[5]

Links

Sources

  1. Vremya N — The Nizhny Novgorod Region Industrial Development Fund has signed a cooperation agreement with the Industrial Development Fund of the Russian Federation (IDF) — Information a (archive)
  2. NIA "Nizhny Novgorod" — The Nizhny Novgorod Industrial Development Fund is reviewing applications totaling 320 million rubles. Nizhny Novgorod News (archive)
  3. Nizhny Seychas RF — The Regional Industrial Development Fund has received applications worth 320 million rubles
  4. BankNN — The Oka Shipyard has received a 20 million ruble loan from the Nizhny Novgorod Industrial Development Fund (archive)
  5. frpnn.ru — IDF of the Nizhny Novgorod Region