This was reported on the website of the regulator.
“The Bank of Russia ... made a decision to clarify the parameters of the new Bank of Russia mechanism to support lending to SMEs with an established total limit of 500 billion rubles. Within the specified aggregate limit, up to 150 billion rubles will be allocated to support lending by banks to SMEs in order to ensure uninterrupted fulfillment of their wage obligations to employees, ”the statement said.
It is noted that the regulator will provide loans to banks for these purposes at a rate of 4% per annum and for a period of 1 year, while the maximum amount of funds for each credit institution will be calculated from the volume of the portfolio of loans provided by it to SMEs to ensure wage calculations in in accordance with the program approved by the Cabinet.
Earlier, Russian Prime Minister Mikhail Mishustin spoke about measures to support small businesses.
Alexander Khandruyev, Head of the Finance Department of the Russian Academy of National Economy and Public Administration under the President of Russia, commented on the measures proposed by Mishustin in an interview with the FAN.