Credit institutions about the initiative of the Ministry of Digital Development – Economics – Kommersant
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“Russian companies are demonstrating a high demand for concessional lending under the program of government decree No. 1598,” Kommersant was told in the press service of the Moscow Credit Bank, one of the participants in the program. The bank explains the interest with an attractive preferential rate. Sovcombank talks somewhat cautiously about the program. “Given the specifics of the program and the significant amount of requirements for ongoing projects and IT companies themselves, we estimate demand as moderate,” Vladislav Monov, senior vice president, managing director for corporate lending at the bank, told Kommersant. According to him, since the launch of the program, credit limits have been opened in the amount of more than 500 million rubles. Mr. Monov notes that the share of failures in the financial situation of borrowers is insignificant. In most cases, companies themselves either refuse because of the rather large volume of requirements imposed on them (filling out project forms for approval by the Ministry of Digital Development, the need for wage indexation, prohibitions on placing deposits and paying dividends, etc.), or do not meet the requirements established by in the resolution, including on the status of a recipient of tax benefits. In his opinion, the proposed changes will expand the funnel of sales of soft loans provided under government decree No. 1598, including to accredited IT companies.
It should be noted that preferential lending to companies for their digital transformation projects was introduced back in 2019 and is intended for businesses that are ready to introduce domestic software products, services and platform solutions created on the basis of end-to-end digital technologies. On April 1, 2022, the head of the White House, Mikhail Mishustin, signed Decree No. 714-r, which, among other things, provided for the allocation of 3 billion rubles. for subsidies to banks to provide concessional lending in the framework of government decree No. 1598 of December 5, 2019. The rate on these loans should not exceed 3%. In 2022, these funds should provide concessional lending to at least 75 digital transformation projects.
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