the program of preferential lending of projects for the preservation and restoration of cultural heritage sites

"On behalf of President Vladimir Putin, Russia is implementing a program of preferential loans for projects to preserve and restore cultural heritage sites in poor condition.

– For investors who are willing to invest in the restoration of architectural monuments that are in poor condition, there is a special program of preferential loans with a rate of only 9% per annum, – said Mikhail Evraev, Governor of the Yaroslavl region. – These are unprecedented conditions that allow us to preserve our historical heritage without financial overload of the owners. I invite investors to actively take advantage of these opportunities.

Currently, DOM.RF Bank JSC, Sberbank PJSC, VTB Bank (PJSC), Alfa-Bank JSC, Sovcombank PJSC, and VEB.RF State Development Corporation are participating in the program. To obtain a loan at a reduced interest rate, investors can contact bank branches.

For more information about the program, please contact its operator DOM.Russian Federation" and on the portal "heritage.dom.rf".

"This initiative is aimed at supporting projects in all regions of Russia and is designed to stimulate private investment in the field of cultural heritage protection," said Svetlana Okhintseva, Head of the State Service for the Protection of Cultural Heritage Sites in the Yaroslavl Region.

Investors can also get money back from the purchase of cultural heritage objects seized in court for their restoration.

– If the owner does not maintain the historical building in proper condition, as required by law, the object is withdrawn and put up for auction. An auction is held, where the highest bidder wins. The winner pays the proposed amount, but almost all of this money can be returned," explained Elena Ermolova, Acting Minister of Property Relations of the Yaroslavl Region. – According to the auction results, the cost of restoration work is refunded to the winner, but not more than the amount received as a result of the auction. The cost of restoring a cultural heritage site is almost always higher than its market price, so almost all funds are returned to the winner. Only the costs of property valuation and conducting public auctions, as well as VAT, are deducted.