Central Bank allocated 60 billion rubles to support business in a pandemic

by time news

The Bank of Russia has allocated 60 billion rubles. for the issuance of concessional loans to small and medium-sized enterprises (SMEs) from the industries recognized as the most affected by the coronavirus pandemic, the press service of the regulator said. The list of the most susceptible to the negative impact of temporary anti-epidemic measures includes sports, hotel and cultural spheres, catering, additional education, consumer services, leisure and entertainment and some others.

Thus, banks will be able to attract loans from the Central Bank against guarantees of the “SME Corporation” at a rate of 4% per annum for a period of up to 1.5 years. Loans can be obtained until December 30 of this year.

“The condition for obtaining such loans is the provision of loans by banks from November 1, 2021 to SMEs from the specified list of industries at a rate not higher than 8.5% per annum, or a reduction in the rate on loans previously provided to such borrowers to a level not higher than 8.5 percent per annum “, – explained the Central Bank.

Earlier, the First Deputy Prime Minister of Russia Andrei Belousov proposed to the President of the country Vladimir Putin to restore the credit program “FOT 3.0”, which operated from March to July this year. According to it, SMEs will be able to get a loan in the amount calculated according to the formula one minimum wage per employee, multiplied by 12 months. At the same time, the company will be free of any loan payments for the first six months. Over the next 12 months, she will need to repay the loan in equal installments. The loan rate will be 3% per annum.

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