The relevance of this research topic is due to the importance of analyzing the systemic relations of state development institutions for assessing their effectiveness and identifying problems in implementing state industrial policy related to systemic relations and interactions. The objective of this study is to develop a methodological tool for assessing the systemic relations of the Industrial Development Fund (IDF) as a state institution for industrial development implementing state industrial policy. The research methods utilize system and economic analyses. A distinctive feature of the developed tool is its consideration of the nature of the IDF’s interactions with government bodies, other state development institutions, and industrial enterprises, as well as the influence of the external environment on these interactions, including macroeconomic conditions and the state and dynamics of the industrial complex. To assess the systemic interrelations of the IDF, the authors develop four groups of indicators characterizing: 1) the volume of financial support for industrial enterprises through the instruments of the IDF; 2) securing the IDF’s obligations and relationships with other state development institutions; 3) the state and dynamics of the manufacturing complex; 4) the influence of the external environment and macroeconomic conditions (indicators characterizing the dynamics of the Bank of Russia key rate) on these interactions. The study shows that for the period under review (from 2020 to 2024), the years with a significant increase in production and investment in fixed assets of manufacturing enterprises (2021, 2023, 2024) are characterized by an increase in the Bank of Russia key rate, as well as a decrease in the net provision of loans by the IDF to industrial enterprises (activities with targeted funds). An increase in the Bank of Russia key rate means an increase in the cost of commercial lending, including for industrial enterprises. The identified interrelations reflect the interaction of the mechanisms of state industrial and monetary policy. Changes are also occurring in the structure of the IDF’s loan repayment security for various forms: the share of collateral and surety is decreasing, the share of bank guarantees, which become the primary form of collateral at the end of the period under review, is increasing, and the share of other collateral is also increasing. The identified structural changes reflect changes in the intensity of the IDF’s interactions with other state development institutions and credit organizations. The scope of application of the obtained results includes state industrial policy and the activities of state industrial development institutions in supporting industrial enterprises.