Two companies from the central Russian Ivanovo Region will use soft loans from the Industrial Development Fund to boost production.
The purpose of the loans allocated under the Combating Epidemic Diseases program is to open new industrial facilities.
The Evtex company will open a medical facemask production line. The Navtex company will make gauze for bandages.
The fund has provided substantial amounts for both of these projects – RUR 51.2 mio ($680K) at 1% for facemasks and RUR 200 mio ($2.65 mio) for gauze.