Russia’s Prime Minister approves new business support program
MOSCOW, March 1 (RAPSI) – Chairman of Russian Government Mikhail Mishustin has signed an order concerning the conditions of a new privileged loan program for businesses from sectors which had mostly suffered during the coronavirus pandemic.
This program will replace the previous one expiring on April 1.
The new measure will be applied to small and major companies from such fields as hotel and catering business, culture, tourism, sports and entertainment. The companies will be able to take privileged credits if save at least 90% of staff during the force of agreement.
The businesses will be able to apply for loans for the term of up to 12 months starting March 9 and until July 21.
According to Mishustin, about 75,000 entrepreuners have recourse to the support measure.