The government launched a program of preferential loans for SMEs at 3-4.5%
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Russian Prime Minister Mikhail Mishutin signed a government decree on soft loans to small and medium-sized businesses at 3-4.5%. About it reported on the government website.
“Small and medium-sized enterprises (SMEs) will be able to receive soft loans for the restructuring and development of production at the current rate of the Bank of Russia at 4.5% and 3% per annum, respectively,” the report says.
With the funds received, it will be possible to buy equipment, overhaul production facilities or launch a new project. It is noted that, first of all, small and medium-sized enterprises operating in the field of agricultural processing, logistics and hotel business will receive soft loans.
The benefit program will run for three years. In this case, the loan can be taken for 10 years. The government expects that by the end of 2022 the volume of loans issued will be about 50 billion rubles.
A new support measure was announced in early August by Russian Minister of Economic Development Maxim Reshetnikov. He said that business needs investment loans “to restructure production processes and develop import substitution.” Mishustin supported the initiative.
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