Additional 800 million. The amount of subsidies, provided to the credit institutions for reimbursement of lost income issued at a preferential rate to SMEs for the implementation of projects in priority sectorstries, has been doubled

Additional RUR 805.3 million were allocated from the federal budget for subsidizing credit institutions. The funds will be used for reimbursement of lost income on loans issued at a preferential rate to small and medium-sized enterprises for the implementation of projects in priority sectors. The initial amount of budgetary allocations for 2018 was determined as RUR 635.5 million. Now the total amount is RUR 1440.8 million. It should be reminded that the Ministry of Economic Development of Russia has prepared a program for providing subsidies from the federal budget for reimbursement of lost income on loans issued at a preferential rate to small and medium-sized enterprises for the implementation of projects in priority sectors.

15 banks were selected for the Concessional lending program for small and medium-sized enterprises at a rate of 6.5%: VTB Bank, Sberbank, 'Rosselkhozbank', 'Bank Accept', 'Alfa-bank', Commercial Bank 'Assotsiatsiya', 'Levoberezhny' Bank, 'Bank Inteza', 'Zapsibkombank', MSP Bank, Social Commercial Bank of Primorye 'Primsotsbank', 'RosEuroBank', 'Bank 'Saint-Petersburg', Russian National Commercial Bank, TransCapitalBank.

The basic conditions of the Program:

credit contract shall be concluded until Novermber 30, 2018;

interest rate, specified in the agreement, shall not exceed 6.5% per annum for the subsidizing period specified in the credit contract;

subsidized interest rate for a credit organization will amount to 3.5% for small-sized enterprises and 3.1% for middle-sized enterprises;

purpose of obtaining credit: investment or replenishment of current assets;

period of concessional loan: up to 10 years for investment purposes and up to 3 year for current assets;

amount of loan for one borrower: from RUR 3 million to RUR 1 billion for investment purposes and from RUR 3 million to RUR 100 million for replenishment of current assets.

Since the beginning of this year, the authorized banks in the Republic of Tatarstan financed 4 small and medium-sized enterprises totaling RUR 239 million.

 Press service of the Ministry of Economic Development of the Republic of Tatarstan