The Russian government subsidizes FOT 3.0 loans issued in 2021

At a meeting on Wednesday, March 2, the Government of the Russian Federation approved the allocation of subsidies that will allow fulfilling obligations under 40,000 loan agreements with businesses concluded in 2021 as part of the FOT 3.0 support program.

The FOT 3.0 program, which allowed entrepreneurs to receive loans at a low rate, should help businesses retain jobs, as well as fulfill their obligations on wages, rent and utility payments, said Russian Prime Minister Mikhail Mishustin.

According to the Ministry of Economic Development, the funds allocated for 2022 in the amount of 6.2 billion rubles will be used to subsidize a preferential 3% rate for borrowers of the first and second stages of payroll 3.0. These funds will ensure the fulfillment of the Government's obligations to business, which is especially important in the current circumstances, the representative of the department emphasized.

According to the head of the Ministry of Economic Development, Maxim Reshetnikov, the financing will primarily support companies from the catering, hotel business, culture and sports sectors - all those who retained at least 90% of employment during the pandemic.

We would like to remind you that the FOT 3.0 concessional lending program is aimed at restoring entrepreneurial activity and supporting employment. The program has shown its effectiveness and relevance. As part of the first stage, from March 9 to July 1, 2021, 16.3 thousand loan agreements were concluded for 57.4 billion rubles, 420 thousand jobs were supported. As part of the second stage, from November 1 to December 30, 2021, 26.3 thousand loan agreements were concluded for almost 89 billion rubles. These companies employ almost 644,000 people.

According to the Ministry of Economy of the Republic of Tatarstan, Tatarstan is one of the leaders in terms of the amount of support received by entrepreneurs under the FOT 3.0 program in 2021. 1163 entrepreneurs from the republic received preferential loans. Business representatives of Tatarstan received support in the amount of more than 4.3 billion rubles.

According to the materials of the Ministry of Economic Development of Russia.