Russia to allot 7.8 bln rbl to new cheap corporate loan program

MOSCOW, Feb 25 (PRIME) -- The Russian government will allocate 7.8 billion rubles in 2021 on a new cheap lending program for 75,000 entrepreneurs, Prime Minister Mikhail Mishustin said at a government meeting on Thursday.

“The president approved a decision to launch a new easy-term lending program for recovery of entrepreneurship. It will be called the FOT 3.0 program. This year we will allocate about 7.8 billion rubles to its implementation from the government’s reserve fund,” Mishustin said.

On Wednesday, he said that President Vladimir Putin a 3% credit program for the companies from the industries that were hurt by the coronavirus pandemic, including public catering companies and restaurants, as well as sports and culture companies.

“Potentially, 75,000 businessmen would be able to use this help,” he said.

(73.7532 rubles – U.S. $1)

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