Russia to Launch New SME Lending Program in July
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Russia will launch a new lending program for small and medium-sized enterprises (SMEs) in July with a limit of 150 billion rubles ($2.09 billion) and an interest rate equal to the key rate, Deputy Prime Minister Alexander Novak announced.
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Warum es wichtig ist
Russia is implementing measures to support its small and medium-sized enterprises (SMEs) amidst economic conditions. This new program follows previous initiatives aimed at providing affordable financing.
MOSCOW, May 25. /TASS/. A new lending program for small and medium-sized enterprises (SMEs) will be launched in July of this year with a limit of up to 150 bln rubles ($2.09 bln) and an interest rate equal to the key rate, Russian Deputy Prime Minister Alexander Novak said during an operational meeting of deputy prime ministers with Prime Minister Mikhail Mishustin.
"Starting in July, together with banks and the SME Corporation, we are launching a new lending program for current operational purposes. The limit here is up to 150 bln rubles, and the rate is equal to the key rate," he said.
The deputy prime minister also recalled that earlier, as part of business support measures, a program providing affordable financing with a priority on manufacturing had been launched.
"In this area, we introduced concessional turnkey investment loans at minus 3.5% for small and medium-sized businesses. First of all, this concerns priority sectors such as manufacturing, the hotel business, information technology, scientific and technical activities, and creative industries," Novak noted.
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The new lending program will be successfully launched by July 2026.
Sehr wahrscheinlich · Innerhalb von Tagen
The program will provide significant financial relief and support to Russian SMEs.
Wahrscheinlich · Kurzfristig
Offene Fragen
- What specific banks will participate in the new lending program?
- What are the exact criteria for SMEs to qualify for the new program?
- How will the 'key rate' be determined and applied to the new loans?
- What is the total budget allocated for the previous concessional loan program?
