OREANDA-NEWS. May 28, 2014. Svetlana Sagaidak, Senior Vice President of Sberbank of Russiaё spoke at the panel discussion titled "Expanding industrialization: A tool for broad-based regional growth" in the framework of the St. Petersburg International Economic Forum, presenting Sberbank’s program titled “New Industrialization.”

The discussion was attended by Alexey Ulyukaev, Minister of the Economic Development, Sergei Morozov, Governor of the Ulyanovsk region, Eckhard Cordes, Chairman of the Eastern Committee of German Economy and Michael Harms, Chairman of the Management Board at Russian-German Chamber of Commerce.

The goal of the “New Industrialization” program, which has no analogues in the Russian market, is to make financing for the production sector more affordable. Within the framework of the program Sberbank implements projects such as financing of industrial parks, technology parks, SEZ, financing for resident companies. Special loan products have been developed, including the “Industrial Park” 12 year loan (for projects with state support - up to 14 years) and the “Business plan” loan for small businesses with a term of up to 10 years.

"Sberbank's guiding principles for working with clients imply long term financing, quick review of investment projects as well as affordable rates, determined by risk levels and collateral quality, " Svetalna Sagaidak noted.

The speaker provided an example of the industrial park projects in Ulyanovsk and Kaluga regions. Sberbank invested approximately RUB1.3bn into these projects. As a result, 4,300 jobs were created, more than 50 large and medium size businesses launched production, with the majority being foreign investors. Total production volume of these companies amounted to RUB 40bn in 2014.