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MIL OSI Translation. Region: Russian Federation –

December 22, 2021 2:23 pm

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Photo by E. Samarin.

The city’s support for small and medium-sized businesses includes subsidies and grants, as well as loan guarantees.

Hundreds of billions of rubles were spent to support enterprises and citizens. About it Sergei Sobyanin told, speaking with an annual report to the deputies Moscow City Duma

“In my opinion, we have found an extremely difficult, but at the same time, balance between restrictive measures to protect human health and preservation of opportunities for the normal functioning of the economy. The city government only imposes restrictions when absolutely necessary. And cancels immediately, as soon as the incidence declines. Moscow business can be sure that it will not turn out to be extreme in the current difficult situation, “- said the Moscow Mayor.

According to him, the capital reacted to the crisis by increasing investments in infrastructure development, as well as targeted support for businesses and citizens. The economic downturn lasted only a few months. And then it was replaced by a new ascent.

According to the results of nine months of 2021, investment growth amounted to 21.9 percent. Production growth in the manufacturing industries – 23.4 percent. The growth in trade turnover is 11.8 percent.

“And unemployment has returned to the natural level of 0.5 percent, having decreased six times compared to the highs of last year,” stressed Sergei Sobyanin.

The most affected industries are tourism, catering, and the hospitality industry. But gradually they are returning to the pre-crisis level.

“Anti-crisis programs will continue to operate. But the most important help for business in the coming years will be the ability to work without fear of long lockdowns and excessive restrictions that paralyze work, ”said Sergei Sobyanin.

Since the beginning of the year, small and medium-sized businesses in the capital have received support from the city in the amount of over 17 billion rubles… It includes direct payments and loan guarantees.

The total amount of funds to support entrepreneurs in Moscow during the pandemic, including 2020, exceeded 34 billion rubles. Most of the amount – over 13 out of 17 billion rubles – was the city’s guarantees for loans from entrepreneurs. They helped the companies to attract financing in the total amount of 27.3 billion rubles.

More than 2.5 billion rubles were allocated for subsidies and grants. A total of 2.6 thousand applications have already been approved. With the help of these funds, you can reimburse the costs of utilities and staff training, product promotion, purchase and lease of equipment, payment of interest on loans and other types of expenses.

also in business support includes subsidizing up to eight percent of the loan rate. The final rate, taking into account city support, ranges from three to seven percent per annum.

In addition, the Moscow Government has approved a new program of concessional lending for novice businessmen. Now, for companies and individual entrepreneurs who were registered in the capital less than a year ago, the city will act as a guarantor for the entire loan amount and subsidize part of the interest rate (in the amount of the key rate of the Central Bank of the Russian Federation) on a loan of up to five million rubles.

You can apply for all types of financial support at website Moscow innovation cluster.

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

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