Russian Direct Investment Fund (RDIF)

The Russian Direct Investment Fund (RDIF) is Russia’s sovereign wealth fund with reserved capital of $10 billion under management. Working alongside the world’s foremost investors, we make direct investments in leading, as well as promising, Russian companies.

RDIF was created in 2011 under the leadership of the President and Prime Minister of Russia to co-invest alongside top global investors, acting as a catalyst for direct investment in Russia.

RDIF has invested and committed for this purpose over 1 trillion rubles, of which RDIF alone invested over 100 billion and 900 billion came from co-investors, partners and banks.

RDIF also attracted over $30 billion of foreign capital into the Russian economy through long-term strategic partnerships.

Who can apply:

  • a non-resource company having export potential and/or engaged in international business activity, interested in obtaining financial support focused on the development of its business, including entry to new markets;
  • company, which implements (plans to implement) an investment project, interested in obtaining financial support focused on the development of its business, including entry to new markets.

What can be obtained:

  • Equity financing. RDIF may own up to 50% of the share capital of a company.

Official website: www.rdif.ru

Industrial Development Fund

The Industrial Development Fund is a development institute created by the Government of the Russian Federation at the end of 2014 to promote modernization of the Russian industry, create new production businesses and ensure import substitution.

Who can apply:

  • a legal entity (business company) or an individual entrepreneur compliant with the following requirements: resident of the Russian Federation; disclose of the composition of its shareholders/participants and ultimate beneficiaries;
  • the applicant shall not be in any restructuring, liquidation or bankruptcy proceeding;
  • the applicant shall have no past-due debts on tax and levy payments to the budget;
  • it shall have no unresolved claims (court decisions which came into force or court proceedings), which directly affect project implementation or exceed 10% of the applicant's assets by the amount thereof.

What can be obtained:

special-purpose loans at 5% p.a. for up to 7 years in the amount of RUB 50 mn to RUB 500 mn through the following programs:

  • Development Projects (loans in the amount of RUB 50 mn to RUB 300 mn for not more than 5 years with the total project budget of at least RUB 100 mn);
  • Consortiums (loans in the amount of RUB 100 mn to RUB 500 mn for not more than 7 years with the total project budget of at least RUB 500 mn (including implementation in enterprises));
  • Machine Tool Industry (loans in the amount of RUB 50 mn to RUB 500 mn for not more than 5 years with the total project budget of at least RUB 70 mn);
  • Leasing (loans in the amount of RUB 5 mn to RUB 250 mn for not more than 5 years with the total project budget of at least RUB 20 mn).

Borrowed funds may be spent on:

  • development of a new product or technology;
  • engineering investigation and development of design documentation;
  • acquisition of intellectual property rights;
  • acquisition of process equipment;
  • acquisition and use of special equipment for design and development works;
  • development of a feasibility study, pre-investment audit, not including expenses on market analysis;
  • general administrative expenses.

Borrowed funds may not be spent on:

  • construction of buildings and structures;
  • R&D works;
  • acquisition of real property;
  • production of military goods.

Official website: frprf.ru

Russian Export Center

The Russian Export Center is a state export support institute created with the cooperation of the Government of the Russian Federation as a "one-stop-shop" for exporters and is a coordination elements of the whole export support system. The Russian Export Center group of companies includes:

  • Russian export credit and investment insurance agency (EXIAR);
  • Russian Export-Import Bank (Eximbank of Russia).

Who can apply:

  • Russian exporters independent of the type of business, industry, size and experience in export business .

What can be obtained:

  • consulting on export business organization and carrying out;
  • assistance in export project structuring, export contract execution, passing individual export procedures;
  • support in interactions with state authorities;
  • training exporters as a part of the educational project; ✓ lending (cheap export loans);
  • insurance (insurance amount under the insurance contract may be as high as 90% of the insurance value if business risks are covered, and as high as 95% of the insurance value if political risks are covered).

Official website: www.exportcenter.ru


EXIAR was established as a specialised state institution to support exports through the provision of a range of export credit and investment insurance products. It is Russia’s national export credit agency (ECA), and was built from the ground up as a result of a push by the Russian government in late 2009 to step up the development and implementation of its export support programme. This project formed one of several anti-crisis measures drawn up at the time to spur national economic development.

Since the agency’s inception, a range of systemic initiatives have been drafted and implemented to help boost export activity both at the national level, and in specific areas and industries (innovation, aviation, agriculture, exports by SMEs, etc.). These include a road map entitled ‘Supporting access to foreign markets and supporting exports’, which aims to solve specific problems related to bottlenecks in export procedures, and was first implemented following the issue of Russian Government Decree No. 1228-r dated 29 June 2012. In 2014, ownership of Eximbank of Russia – which specialises in financing export transactions – was transferred to the agency. This was in response to a presidential directive to streamline financial support for exports by consolidating existing credit and insurance services under the EXIAR umbrella. In 2015, the Russian government acknowledged the desirability for a one-stop shop to be established as part of Vnesheconombank, offering financial and non-financial support for exports. Consequently, in April of that year, the Russian Export Center was officially registered as company, and relevant legislative amendments were introduced by Federal Law 185-FZ dated 29 June 2015 (‘On amendments to Federal Law “On the bank for development” and part two of article 970 of the Civil Code of the Russian Federation’). On 10 December 2015, the Russian export center became the sole shareholder of JSC "EXIAR".

The agency plays an active role in helping to further develop the state’s export support system. It also regularly interacts with key ministries and agencies on related matters, including with the Russian government, the Ministry of Economic Development, the Ministry of Finance, and the Ministry of Industry and Trade. At the same time, it continues to accumulate expertise and international experience in the highly specialised field of financial services, while also acting to meet the needs of exporters. The agency’s success in this area is in large part due to its accrued experience in export transactions and its understanding of the specific requirements of growing exports in Russia.

Who can apply:

EXIAR works with a wide range of customers, varying greatly in terms of both size and business objectives. Our customer profile includes the following:

  • Russian exporters, including small and medium-sized enterprises, as well as their international subsidiaries involved in the export process at various stages (e.g. international trading companies belonging to Russian exporters)
  • Russian and international financial organisations, including banks and factoring companies providing financing to exporters and their clients; investment and leasing companies participating in international projects

What can be obtained:

Financial Support:

  • For export projects fulfilling certain criteria, partial or full financing from the Russian state is available. This applies to exports of high-tech products or capital-intensive investment projects abroad involving shipments of Russian products which are of strategic importance to the Russian Federation. As well as direct financing from the state budget and subsidised interest rates, export support is also available in the form of Russian state guarantees. The procedure for obtaining a state guarantee is enshrined in Russian Government Decree No. 803, dated 1 November 2008. Guarantees are issued for the benefit of Russian exporters, as well as Russian and foreign creditor banks. Exports qualifying for state guarantees are outlined in a list of industrial products approved by the Russian government and enshrined in Russian Government Order No. 1222-r, dated 21 September 2004.
  • Under Russian Government Decree No. 1302 dated 13 December 2012 and Russian Government Decree No. 566 dated 8 June 2015, EXIAR’s partner banks – Vnesheconombank and Eximbank of Russia – have the authority to provide loans involving the interest make-up scheme. This measure applies to loans provided for foreign buyers of high-tech Russian exports in order to ensure their competitiveness on the international market.
  • The agency operates within a special legal framework regulating the procedure for export credit and investment insurance support.
    EXIAR’s insurance capacity is RUB 300 billion.
    For each insured trade transaction, the agency can cover up to 95% of losses arising from political risk and up to 90% of commercial risk.

Strategic areas of activity:

  • insurance support for exports of Russian goods and services
  • the development of a modern export finance system, secured by the agency’s insurance coverage
  • insurance support for Russian investments abroad
  • support to export-oriented SMEs
  • The agency provides services to insure:
  • export credits against commercial and political risks
  • Russian investments abroad against political risks (since 2013)

Non-financial Support:

In order to support companies involved in exports, a network of regional export support centres has been established providing a range of services and support, from information and analysis to consultations and assistance on organisational matters. These centres offer the following:

  • Consultations on the practical side of foreign trade
  • Information on commercial proposals made by foreign companies
  • Expert reviews of foreign trade contracts and agreements
  • Opportunities to visit trade expos, conferences and seminars held in other countries
  • Opportunities to participate in foreign trade and economic missions
  • Assistance in organising business meetings and negotiations

Official website: https://www.exiar.ru

Russian Venture Company JSC

Russian Venture Company JSC (RVC) is a national fund of funds and an institute for innovation development of the Russian Federation. RVC contributes to laying the groundwork for attracting private capital to the innovative segment of the Russian economy through the creation of venture funds based on principles of public-private partnership and the establishment of a national innovation ecosystem. 100% of RVC shares are held by the Russian Federation.

Who can apply:

  • management companies and prime partners of venture funds;
  • operating investment funds;
  • institutional investors;
  • corporate and private investors;
  • innovative companies – venture capital investees (as part of direct interaction with venture funds formed with the participation of RVC);
  • scientific and educational institutions, representatives of innovation infrastructure, technology communities, media market players and other representatives of the knowledge industry interested in implementing joint programs with RVC aimed at developing an innovative ecosystem.

What can be obtained:

  • financial support when forming venture funds with the participation of the capital of RVC;
  • investments from one or more funds with the participation of the capital of RVC;
  • methodological, expert and consultancy support on the issues of formation and operation of venture funds;
  • participation in educational, accelerating and other activities of RVC, aimed at developing competencies and expertise of market players;
  • access to RVC’s competencies and non-financial instruments in the development of regional, university, corporate and industry innovation ecosystems.

Official website: www.rusventure.ru

State Corporation Vnesheconombank (VEB)

VEB is a national development bank contributing to the implementation of state social and economic policy, the enhancement of competitiveness of the national economy and its modernization based on innovations.

VEB has been established under the Federal Law On the Development Bank and is 100% state-owned.

Who can apply:

  • companies engaged in implementing investment projects with a value exceeding 2 billion rubles (for projects aimed at developing single-industry municipalities – exceeding 1 billion rubles) with a payback period of more than five years;
  • minimum amount of VEB’s investments – 1 billion rubles (for projects aimed at developing single-industry municipalities – 0.5 billion rubles).

What can be obtained:

  • loans;
  • guarantees and sureties;
  • participation in common equity of business entities;
  • leasing transactions;
  • insurance of export credits;
  • financial support and warranty cover for exports.

Official website: www.veb.ru

RUSNANO Joint Stock Company

RUSNANO JSC contributes to implementing the state policy for the development of the nanoindustry through investing in high-tech projects that facilitate the creation of technological chains and (or) ensure the development of new production facilities in the nanoindustry in Russia. 100% of RUSNANO’s shares are held by the Russian Federation.

RUSNANO’s business model implies financing of projects through the nanotechnology investment funds created under the control (co-control) of RUSNANO Management Company LLC at the expense of RUSNANO’s own financial resources and attraction of resources of private co-investors.

ROSNANO invests in both Russian and foreign companies with a view to transferring technologies to Russia to localize production facilities and create R&D centers.

Who can apply:

  • Companies implementing profitable projects in nanoindustry at the venture stage and growth stage, which have a significant potential and have shown an actual growth of 1.5-2 times higher than the competitors’. At the same time, these companies must meet the following requirements:
  • companies and projects at an early stage of development with proceeds of up to 10 million US dollars (or with no proceeds), which have a significant potential for growth (1.5-2 times higher than competitors’) and a business model allowing for generating profits in the long-term;
  • companies at the stage of growth (average capitalization) with proceeds from 30 to 100 million US dollars, which previously have shown an actual growth exceeding industry figures by 1.5 to 2 times and have a significant potential to expand business or increase profitability with stable or growing cash flow from operations;
  • large capitalization companies (including repurchase transactions) with proceeds from 250 million to 3 billion US dollars, which have shown an actual growth exceeding average industry figures or have a significant potential to increase profitability, as well as stable or steadily growing cash flow from operations.

What can be obtained:

  • contribution to the authorized capital of a portfolio company;
  • special-purpose loans for an engineering company, provided that sufficient funds to service the loan are available;
  • access to unique investment and technological expertise;
  • support in infrastructure and administration.

Official website: www.rusnano.com

Russian Foundation for Technological Development

Russian Foundation for Technological Development provides financial support for scientific and engineering projects and experimental developments that correspond to the Foundation’s top-priority Technology Platforms.

Who can apply:

  • Projects are selected following the results of a tender. A tender involves enterprises ordering or implementing engineering projects with a significant share of R&D.
  • An applying company shall have current assets to make a quarterly payment for the Foundation’s monitoring and project support services of 0.75% of the loan amount.

What can be obtained:

  • The winner is granted an interest-free special-purpose loan.
  • The purpose of the loan is to finance R&D as part of an engineering project.
  • The loan amount – from 10 to 300 million rubles, but no higher than the amount of net assets of an applying company.
  • The loan term – up to 60 months, repayment – within 37-60 months.

Official website: http://www.rsci.ru/

The Fund for Development of the Center for Elaboration and Commercialization of New Technologies (the Skolkovo Foundation)

The Skolkovo Foundation is the management company of the Skolkovo Innovation Center, which acts as the complex of infrastructure in the territory of the Skolkovo Innovation Center and the mechanisms for interaction of persons involved in implementation of a set of measures aimed at achieving the goal of creating and ensuring the functioning of the Skolkovo Innovation Center, in particular through the use of this infrastructure.

ho can apply:

A legal entity carrying out research in certain areas established by Federal Law No. 244-FZ of 28 September 2010 On the Skolkovo Innovation Center (energy efficiency and energy saving, including development of innovative energy technologies; nuclear technologies; space technologies, first and foremost in telecommunications and navigation systems (including creation of an appropriate ground infrastructure); medical technologies in the development of equipment and medicines; strategic computer technologies and software; biotechnologies in agriculture and industry), engaged in developing an innovative project in one of the above areas, in particular at the early stages of project development.

What can be obtained:

  • financing in the form of grants;
  • granting tax exemptions;
  • granting customs privileges in respect of goods (excluding excisable goods) imported for research;
  • assistance in commercialization of participants’ projects, including under the accelerated program;
  • providing access to the research infrastructure as part of the innovation ecosystem;
  • assistance in the protection of intellectual property;
  • complex legal support when executing transactions;
  • assistance in obtaining investments;
  • simplified procedure for hiring expatriate employees;
  • assistance to students, young scientists, specialists and entrepreneurs in innovation and technological entrepreneurship;
  • access to unique investment and technological expertise;
  • support in infrastructure and administration.
  • information support.

Official website: www.sk.ru

Fund for Infrastructure and Educational Programs (FIEP)

The FIEP renders financial and non-financial assistance to the innovation development of the Russian economy in as pertaining to nanoindustry through the formation and development of innovation infrastructure, the development of skilled labor market and vocational education and training system, the implementation of institutional and information support that facilitate the introduction of technological solutions and ready-to-use products into the market.

The FIEP renders financial support to companies through the implementation of infrastructure projects, which include nanotechnology centers (nanocenters), technology and engineering companies, technology transfer centers, etc., and as part of the agreement between the Government of the Russian Federation and the Government of the State of Israel to cooperate as pertaining to industrial R&D, which implies the selection and support of joint Russian-Israeli projects as pertaining to industrial R&D for the purpose of developing international cooperation and creating successful innovative production facilities.

Who can apply:

As part of the FIEP infrastructure projects:

  • companies at an early stage of development in the process of creating a prototype/pre-production prototype and/or technology as pertaining to nanotechnology;
  • teams, startups and companies planning to create or creating projects as pertaining to industrial technologies (including robotics, additive manufacturing), alternative energy sources, biotechnologies and medicine, which require scientific, technological and (or) legal review, assistance in fund raising, coordination and arrangement of interaction with other development institutions;
  • research groups, administrations of higher educational establishments (interested in creating joint technology transfer centers).

As part of the Russian-Israeli project support program as pertaining to industrial R&D:

  • teams, startups and companies cooperating or planning to cooperate with companies in Israel on projects at the stage of industrial R&D (to join the program it is required to file an application as part of ongoing selection of Russian-Israeli projects)

What can be obtained:

  • contribution to the authorized capital;
  • special-purpose loans;
  • financing in the form of grants for Russian participants in Russian-Israeli projects as pertaining to industrial R&D;
  • access to the technology infrastructure of nanocenters (access to equipment and provision of technological services);
  • access to advanced technologies; partnership with world’s
  • technological leaders;
  • assistance in structuring a business idea or a project and in creating a company;
  • scientific, technological and/or legal review;
  • assistance in fund raising, in particular in other development institutions.

In the course of rendering non-financial support, the FIEP works in the interests of innovation companies on standardization (development and updating of basic regulatory documents), certification and permits (confirmation of quality and safety of products), assessment of preferential characteristics and metrological support (measurements and testing of new products), creation of regulatory and technical infrastructure for innovations (creation of regional centers for regulatory and technical support of innovations).

Who can apply:

  • a legal entity operating in the field of innovations, in particular at the early stages of product development, and regional development institutions.

What can be obtained:

  • assistance in the development of standards (national, provisional national, corporate, “green”) on the terms of co-financing;
  • a complete package of services on certification, testing, obtaining permits for the release and circulation of new products on the market;
  • bundled support for the creation and application of regulatory and technical instruments to reduce risks upon entry of new products into the market;
  • informational support as pertaining to regulatory and technical support of innovations as part of the Standardization Center in the field of innovations.

Official website: www.rusnano.com/infrastructure

Institute of the Commissioner for the Protection of the Rights of Entrepreneurs (Business Ombudsman).

The Institute for the Protection of the Rights of Entrepreneurs was established to handle the problems of entrepreneurs operating in the Russian Federation. Business Ombudsman has exceptional functions for upholding the interests of entrepreneurs in their relations with governmental authorities. Business Ombudsman carries out activities under Federal Law No. 78-FZ of 7 May 2013 On the Commissioners for the Protection of the Rights of Entrepreneurs in the Russian Federation.

At the regional level, the Institute of Business Ombudsman is present in all constituent entities of the Russian Federation.

Who can apply:

Russian and foreign entrepreneurs whose rights and interests have been violated.

What can be obtained:

Protection of the rights of entrepreneurs in the following cases:

  • extortion;
  • attempts to grab assets;
  • administrative pressure;
  • down time due to bureaucratic red tape;

Official website: www.ombudsmanbiz.ru

The Far East and Baikal Region Development Fund

The Far East and Baikal Region Development Fund is a state financial development institute created on the initiative of the President of the Russian Federation and the Chairman of the Government of the Russian Federation, which ensures a flexible approach to project structuring and financing.

It invests in the creation of new enterprises and infrastructure facilities, which have significant social and economic impact on the development of economy of the region.

The Fund focuses on the search, structuring and implementation of projects having a significant multiplier effect, creation of new opportunities for attracting investments in the Far East, provision of assistance to regional authorities in terms of preparing and structuring of public-private projects (including through concession mechanisms).

The authorized capital amounts to RUB 15.5 bn.

Who can apply:

  • a financially sustainable company with experience in the implementation of projects envisaging creation of expansion of an existing enterprise;
  • project value of at least RUB 500 mn in any industry;
  • the project shall be implemented in the territory of the regions included in the Far East Federal District (the Amur region, the Jewish Autonomous Region, the Kamchatka Region, the Magadan region, the Primorye Territory, the Republic of Sakha (Yakutia), the Sakhalin Region, the Khabarovsk Territory, the Chukotka Autonomous District, the Zabaykalskiy Krai, the Irkutsk Region and the Republic of Buryatia.

What can be obtained:

  • the target level of participation of the Far East and Baikal Region Development Fund is up to 1/3 of the total volume of funds required to implement the project in debt of equity;
  • investment payback period is 5 years;
  • the target ROI is 5% p.a.

Official website: www.fondvostok.ru

The One-company town Development Fund

The One-company town* Development Fund is a development institute, which focuses on the creation of institutional and infrastructural conditions to attract investments and create new jobs in one-company towns.

Who can apply:

  • Russian and foreign businessmen, enterprises, intending to implement investment projects not related to the activity of city-forming enterprises, the projects of which aim to diversify the economy of one-company towns and create jobs.

What can be obtained:

  • free-of-charge connection of investors to utilities created with the cooperation of the One-company town Development Fund;
  • assistance in investment project preparation;
  • consultations on the implementation of investment projects, incl. on the selection of sites, and obtaining state support in the investment activity;
  • favorable project financing through the loan or participation of the One-company town Development Fund in equity: financing volume from RUB 100 mn to RUB 1 bn at 5% p.a. for up to 8 years, subject to financing of not more than 40% of the project value.

Official website: frmrus.ru

*A one-company town is a municipality, where ≥ 20% of employees of all organizations operating in its territory work at one or several enterprises operating in the same industry. A city with a single-industry economy, in which city-forming enterprises are located.

The Investment lift tool

Investment lift is an integrated program to support the development of non-resource mid cap companies with export potential. The program is intended to increase the share of exports in the revenue of high-potential companies and decrease dependency of the Russian market on imported foreign products and services. The tool is used by: the Industrial Development Fund, the SME Corporation, the RDIF and the Russian Export Center.

Who can apply:

  • a non-resource company having export potential and/or engaged in international business activity, interested in obtaining non-financial support and financial support focused on the development of its business, including entry to new markets;
  • a company, which implements (plans to implement) an investment project, the products of which have export potential, which requires co-financing of investments, working capital and non-financial support measures.

What can be obtained:

  • from the Industrial Development Fund: low-rate loans;
  • from the SME Corporation: guarantees and loans;
  • from the RDIF: equity co-financing of investment projects;
  • from the Russian Export Center: interaction with trade representations, consultations on external markets, information support

Official website: http://ru.investinrussia.com/invest-lift-support

Agency for Strategic Initiatives

Agency for Strategic Initiatives to Promote New Projects (Agency for Strategic Initiatives) is the autonomous non-profit organization established by the Government of Russia in order to implement set of measures in economic and social spheres.

The agency operates since August 11, 2011.

The mission of the agency is to create opportunities for self-actualization of young ambitious leaders capable of bringing Russia to the frontline, building the country to live and work.

Areas of work:

Creating conditions for global leadership. It includes three initiatives:

  • National Technology Initiative;
  • Investment lifts for medium-sized companies;
  • Staffing industrial growth.

Creating a foundation for long-term leadership. It includes two initiatives:

  • The new model of additional education for children;
  • Positive image of an entrepreneur and professional in Russian society.

Improving investment climate and supporting investors. It includes three initiatives:

  • National Business Initiative;
  • National rating of investment climate in Russian regions;
  • New quality of life of disabled people.

Official website: www.asi.ru

The Invest in Russia platform

The Invest in Russia platform targets international investors who want to learn more about investment opportunities in Russia. It gathers key facts on the state of the Russian economy in general and Russian regions in particular, provides a benchmarking tool that allows to compare regions as investments destinations.

It also features success stories of the largest investors into the Russian economy as well as the database of the projects available for investment in the Russian regions and site selection tool, with which investors can search for suitable properties (greenfield and brownfield).

The information is available in English, Russian, Chinese and Arabic.

Official website: http://investinrussia.com

Regional market entry and investment support center for foreign strategic investors

Who can apply:

  • foreign investors, planning to create/develop a facility or implement investment project in Russia.

Where the Center can support:

  • Identify, screen and evaluate those regions which offer the optimum potential for investor;
  • validate selected potential Greenfield manufacturing sites and, if necessary, identify, and evaluate alternative Brownfield sites;
  • evaluate the costs and conditions of the sites against initial agreed criteria (the size of territory, the presence of local qualified labor resources and developed infrastructure, labor cost, logistics, taxes and incentives etc);
  • assist in negotiations at the local level to insure that the investor makes the best investment decision which meets technical and business criteria.

Official website: www.investinrussia.com

Investments promotion agencies (IPAs)

Key functions of IPAs:

  • facilitation of the "one-stop-shop" regime for investors in their interactions with executive authorities;
  • assistance in the setup of project teams focused on the support and "turnkey" implementation of individual investment projects;
  • promotion of investment opportunities and projects of the region in Russia and abroad (through conferences, exhibitions, forums etc.);
  • facilitation of cooperation with investment and venture funds, banks, foreign state investment agencies, specialized financial institutions, Russian and international development institutes to use their potential and capabilities related to the financing and support of investment in the region;
  • representation of interests of the constituent territory of the Russian Federation in public-private partnership projects.

National association of IPAs (NAIPA)

NAIPA is an organization representing regional IPAs with more than 35 members. NAIPA's mission is to advance communication between regional IPAs, Federal and Regional Governments. NAIPA does this by:

  • creating a professional investment promotion community
  • encouraging investment promotion and developing business connections
  • promoting communications and best practice exchange between Development Institutes
  • coordinating regional projects implementation with Federal Government and federal Development Institutes
  • promoting consolidated position on Development Institutes performance - Organizing education process for IPA teams.

Official website: http://naair.ru