On the subsidized loans for affected companies will give another 100 billion rubles

Russian President Vladimir Putin considers it appropriate to allocate 100 billion rubles for the program of preferential crediting of companies by 2% per annum while maintaining jobs. He stated this today during a televised address to the Russians.

He specifically touched on “the employment assistance as a soft loan at a rate of 2 percent for the affected industries.” “These funds will go to organizations, enterprises in three equal tranches in June, July and August. And then, as we said, while maintaining the staffing company’s debt will be completely written off,” said the head of state.

however, he drew attention to the fact that “this measure is in demand.” “Applications have been approved from 90 thousand companies 2 million 400 thousand employees. But the demand, as we have seen, was much higher than originally planned by the government,” Putin concluded.

In this regard, he proposed “to expand the support the program.” “To allocate for its implementation is another 100 billion rubles. And thus additionally support the businesses, their employees at the stage of exit constraints and thereby accelerate economic recovery and employment,” the President emphasized.

the Program of giving loans at 2% per annum (the difference being subsidized from the Federal budget) to companies from the affected sectors and socially oriented non-profit organizations was launched on 1 June. The loan is issued in the amount of one minimum wage per worker for six months. If the company will retain 90% of current jobs, the loan and interest will be charged in full if an 80% write off half, said TASS.

let’s Add that the Russian economy in February—March 2020 was under the powerful impact of two negative factors — the rapid spread of the pandemic coronavirus infection COVID-19 and its deleterious effect on the global EconAmico, as well as the collapse in oil prices. Against this background, the rouble significantly depreciated against the dollar and the Euro. Reacting to the situation, the government and the Bank of Russia adopted several packages of measures to support the economy and citizens.

on 27 may, the Minister of economic development (MED) of the Russian Federation Maxim Reshetnikov said that the total cost of anti-crisis measures to support the Russian economy, aimed at combating the impact of the pandemic coronavirus has reached 3.3 trillion rubles.

on 2 June Prime Minister Mikhail Mishustin presented to the President a national plan for the recovery of the Russian economy in 2020-2021 years, noting in particular that the cost of the plan will be about 5 trillion rubles.

Stories about how you tried to get help from the Russian state in terms of coronaries and what came of it, email it to COVID-19@rosbalt.ru