Russia's Industrial Development Fund to receive 39 bln rubles for projects in auto industry, including R&D - prime minister

MOSCOW. Dec 22 (Interfax) - The Russian government has allocated an additional 39 billion rubles to the Industrial Development Fund (IDF) in order to support the manufacturing of automotive parts and components, as well as research and development (R&D), Prime Minister Mikhail Mishustin said on Friday during a government meeting.

"The President [Vladimir Putin] has instructed to expedite developing production of the entire necessary list of critical auto parts and components. About 39 billion rubles have been allocated to the Industrial Development Fund, and a significant part of the funds will be directed to implementing the key projects of the leading domestic automakers, including promising R&D," Mishustin said.