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MIL OSI Translation. Region: Russian Federation –

Since November, for enterprises and organizations from the most affected industries, the issuance of concessional loans at a rate of 3% per annum has been resumed within the framework of the second stage of the “FOT 3.0” program. It was decided to allocate up to 20 billion rubles for these purposes. The decree on the allocation of funds and the decree on the parameters of the updated program “FOT 3.0” were signed by Prime Minister Mikhail Mishustin.

The loan can be obtained for a year and a half at the rate of one minimum wage for each employee for 12 months. The loan maturity has been doubled – from 6 to 12 months.

“It is important that in the first six months you can pay nothing – neither interest nor principal, and then repay the loan in equal installments within 12 months,” said Mikhail Mishustin, speaking at a meeting of the Government.

The issuance of new loans under the “FOT 3.0” program will begin on November 1 and will end on December 30.

Representatives of 17 industries will be able to receive support (there were 11 of them in the first stage of the “FOT 3.0” program). At the request of the business, such areas of activity as additional education for children and adults, day care services for children, consumer services, dry cleaning services, dentistry, hairdressing and beauty salons were added to the list.

The key condition for participation in the program remains the same: companies need to keep the number of employees at a level of at least 90%. This indicator will be monitored through the data of the Federal Tax Service.

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EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

MIL OSI Russia News