PRESS: PM says govt refunds banks cheap IT loans with 175 bln rbl

MOSCOW, Jun 6 (PRIME) -- The Russian government will allocate 175 billion rubles to compensate banks for the interest rate on beneficial loans given to introduce national software and hardware suites, business daily Vedomosti reported on Monday citing materials for a conference speech of Prime Minister Mikhail Mishustin.

“The government defined Russian digital solutions as the priority ones for manufacturing state corporations and companies. The share of their expenses on such purchases must rise to 70% of all expenses on digitalization in the next two to three years,” Mishustin said.

He also said that all foreign solutions and software and hardware suites at core facilities of key information infrastructure are to be substituted with Russian ones by 2025.

The country’s industrial sector is on the third place – after the IT and financial sectors – by spending on implementation and use of digital technologies, but only 23% of the IT solutions exploited in the industry are local, he said.

(61.9659 rubles – U.S. $1)

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