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Putin Says Russia Will Offer Cheap Loans to Industry Investors

Investors in Russian industry will receive loans at an interest rate of inflation plus 1 percent, President Vladimir Putin said during a speech at the St. Petersburg International Economic Forum on Friday.

Putin said that Russia needs a genuine technological revolution, which in turn means that enterprises must have long-term access to affordable investment resources, Interfax reported.

The government and the Central Bank will submit the corresponding proposals in the coming days, Putin added.

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