Business received over RUB 1 trillion in soft loans for keeping people employed

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AK&M 04 August 2020 23:39

Concessional loans for a total amount of more than RUB 1 trillion have been provided to businesses to keep people employed, according to the results of monitoring by the Ministry of Economic Development of concessional loans issued by banks.

In particular, more than RUB 96 billion have been provided under the programs of lending for payroll payments at a zero interest rate (about 37.8 thousand loan agreements), about RUB 347 billion under the programs of lending for payroll payments at an interest rate of 2% (about 148 thousand loan agreements).

The loan agreement have been concluded with small, medium-sized businesses and microbusinesses, large businesses, and socially-oriented nonprofit organizations.

The government's anti-crisis measures also include 6-month loan repayment holidays. The total amount of the loan agreements concluded to secure such holidays exceeds RUB 16 billion (for more than 700 contracts).