Infrastructure loans are closer – Economics – Kommersant

As part of additional financial support for the regions in 2021, the government will allocate the first tranche of 50 billion rubles. to improve the balance of their budgets, and also prepares to launch infrastructure support measures. So, on Thursday, the authorities announced the start of the infrastructure loans mechanism – it is planned to provide 500 billion rubles in the next two years. such loans, in total, the applications of the regions are estimated at 2.5 trillion rubles.

The government is allocating the first tranche this year to support the balance of regional budgets, Prime Minister Mikhail Mishustin said at a meeting on Thursday. In total, 100 billion rubles are planned for these purposes in 2021. (last year 280 billion rubles were provided in three tranches). So far, according to the prime minister, 55 regions will receive such support. At the same time, the authorities are also allocating funds for the development of the transport system – 53 billion rubles.

As Deputy Prime Minister Marat Khusnullin said on Thursday on the Russia 24 TV channel, the government also approved the rules for the distribution of budget loans: “Today is the start of a big program.” So, in the next two years, it is planned to issue such loans in the amount of about 500 billion rubles; such loans will be provided for a period of at least 15 years and at a rate of no more than 3% for the construction, reconstruction, repair of transport, engineering, communal, social, tourist infrastructure, including for industrial parks and technology parks. According to Marat Khusnullin’s estimates, the infrastructure created with budgetary loans will attract more than 1 trillion rubles. extrabudgetary funds. For now, the mechanism will be tested in a pilot mode in six regions: in Nizhny Novgorod, Chelyabinsk, Tyumen, Tula, Sverdlovsk, Saratov regions.

In general, as the head of the Ministry of Construction Irek Fayzullin said on Thursday, applications were received from 50 territories for a total of 2.5 trillion rubles.

According to Mikhail Mishustin, the regulatory framework is also ready to launch the infrastructure bonds mechanism – it is planned to attract 150 billion rubles in four years. due to this tool. According to the prime minister, “this will ensure the provision of concessional infrastructure loans at 4% for up to 15 years, and for individual projects – up to 30 years.” It is planned to start construction using bonds in six regions: in Lipetsk, Sakhalin, Tula, Tyumen, Chelyabinsk and Sverdlovsk regions. Recall that in 2021 it is planned to issue infrastructure bonds for 30 billion rubles, for their placement at the end of last year, the state company created a specialized project finance company, which will attract funds from market investors under the guarantee of DOM.RF. In total, as previously reported, DOM.RF is considering about 50 projects worth 1 trillion rubles.

According to Maksim Pershin, an expert from the ACRA regional ratings group, the provision of budget loans for up to 30 years at a preferential rate compared to the market will improve the financial model of infrastructure projects – now, as a rule, the repayment period for borrowings attracted by regions from commercial sources is not more than five to seven years, which is significantly less than the payback period of many projects.

According to the expert, in 2020 the total expenditures of all constituent entities of the Russian Federation on the road sector amounted to about 1.2 trillion rubles, and on housing and utilities – about 1 trillion rubles.

Investment of 500 billion rubles. within two years may lead to a noticeable increase in costs in these areas – as a result, the volume of construction should increase, believes Maxim Pershin. “In addition, we can expect a multiplier effect from the provision of infrastructure budget loans: an improvement in the financial model of projects may allow attracting additional funds from commercial sources to these areas,” he says.

Evgeniya Kryuchkova



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