MAKHACHKALA, June 23 – RIA "Dagestan". A federal subsidy of RUB 34.7 million has been allocated to the Republic of Dagestan for recapitalizing its Industrial Development Foundation. The funds have been granted through a competitive selection run by the Ministry of Industry and Trade of Russia under the Rules for granting federal subsidies to co-finance regional spending obligations related to industrial development programs, as provided for in the "Development of Industry and Enhancement of Its Competitiveness" state program.
According to Acting Minister of Industry and Trade of Dagestan Nizam Khalilov, the recapitalization of the Industrial Development Foundation will enable the provision of soft loans to industrial companies, which will finance investment projects focused on producing priority industrial output. In 2025, the Foundation had already obtained RUB 280.3 million under the "Development of Industry and Enhancement of Its Competitiveness" state program, plus RUB 75 million from the federal Government's reserve fund. Overall, from 2020 to date, the Foundation has supported 38 industrial sector projects worth a combined RUB 1 billion 65 million.