Historical sites will be restored with the involvement of concessional financing from VTB

VTB provided funds for the restoration of two facilities in the Pskov and Nizhny Novgorod regions within the framework of the program of preferential lending of cultural heritage sites (OKN), operated by DOM.RF. The total amount of financing amounted to 350 million rubles with the involvement of guarantees from the SME Corporation.

In Pskov, the investor Augustina LLC plans to renovate an apartment building built in 1950. The project provides for the preservation of architectural characteristics, as well as the creation of commercial premises on the ground floor. In the Nizhny Novgorod Region, R.N. Frolov, an individual entrepreneur, received funding for the restoration of an 18th-century Hunting Lodge (Manor) located on the banks of the Oka River. The facility will be used as a hotel and a medical sanatorium, expanding the possibilities of the tourist and recreational infrastructure of the region.

"The program of preferential loans for the restoration of cultural heritage sites is an important investor support mechanism that makes projects for the preservation of historical buildings economically viable. It allows you to combine the preservation of the historical environment with the adaptation of facilities to the modern needs of the regions. The simplicity and effectiveness of the program's terms ultimately have a positive impact on the development of tourism infrastructure," said Ivan Rozinsky, Head of the Regional Business Lending Department and Senior Vice President of VTB.

"For the HOUSE.As the operator of the concessional lending program, it is very important for the Russian Federation that investor interest in it continues to grow, and partner banks are starting to finance the restoration of facilities in the regions," said the First Deputy General Director of DOM.Russian Federation Alexey Nidens. He expressed confidence that the beginning of the real operation of the umbrella guarantee mechanism for small and medium-sized businesses will also help to further attract new investors to window restoration projects.

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