The main goal and objective of the Investment Agency established in August 2013 is to attract investment to business projects on the territory of the Republic of South Ossetia, told the news agency "Res" the head of the Agency Alexei Shcherbakov.
"Access to solid and long-term investment money is practically closed to the business community of the Republic, and the Investment Agency will provide access to these resources.
The Agency's role is also in ensuring access for Russian investors to the market of South Ossetia", - he said. According to the head of the Agency, the institution is created with the participation of Russian banks, on the basis of Russian-South Ossetian agreements.
Shcherbakov has explained that the Investment Agency initially evaluates the business projects, and an outreach programme for South Ossetian businessmen is provided by the Ministry of Economic Development of South Ossetia.
According to the head of the Agency, financing of projects will be carried out depending on the financial needs of a concrete project, the only thing that should have an entrepreneur; it's at least 10% of the equity of the project cost. The remaining part will provide the Agency in the form of contribution to the capital or in the form of long-term loans (credits).
" As one of the sources of financing of a project can be public co-financing of the project, but only in those cases when the project fails to be efficient without the state support," - said the head of the Agency.
Alexei Shcherbakov has noted that entrepreneurs who decide to participate in this program must apply to the Ministry of Economic Development of South Ossetia.
"The limit of funds for a business plan will be determined on the basis of their degree of maturity and efficiency. The money to be released from the project again will be invested in new projects. We already have a number of projects in the portfolio; they are now to be considered, "- he said.
Forms of interaction and procedure of the work with the South Ossetian counterparts, is prescribed in the agreement with the Ministry of economic development of South Ossetia.
"We work under this agreement. It also includes meetings with the business community on the basis and with the support of the Ministry of Economic Development ", - concluded the head of the Investment Agency.
