Digital ministry wants to remove cheap loan ceiling for tech firms

MOSCOW, Oct 10 (PRIME) -- Russia’s Digital Development Ministry has suggested removing the ceiling for beneficial loans that the local producers of computing electronics get to acquire electronic components and materials, according to a draft ruling released on Tuesday on the official portal.

It says that the minimum beneficial loan provided to one borrower under one credit contract should amount to 3 billion rubles, while the current document puts the maximum loan at 100 billion rubles.

The ministry also wants to oblige the technological companies that took the loan under the program but failed to show the target indicators to reimburse the loss to the federal budget.

(101.3598 rubles – U.S. $1)

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