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MIL OSI Translation. Region: Russian Federation –

February 7, 2022, 09:01

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Photo by M. Denisov. Mos.ru

Start-up entrepreneurs will continue to receive support this year.

22,000 capital companies took advantage of the concessional lending program. Natalya Sergunina, Deputy Mayor of Moscow, said that the total amount of loans amounted to more than 168.6 billion rubles. For program participants, the final rate, taking into account city support, was from three to seven percent per annum.

“The amount of preferential loans amounted to more than 168.6 billion rubles. About 22 thousand companies received support. These are metropolitan enterprises from industries affected by the pandemic, as well as those operating in priority areas for the city. In November 2021, the Moscow Government approved a special program for start-up entrepreneurs. Its implementation will continue this year as well,” said Natalia Sergunina.

The concessional lending program was launched in May 2020. Three more have been developed in 2021. Thus, not only representatives of small and medium-sized businesses, but also large Moscow employers, as well as enterprises from priority industries, began to receive a similar measure of support. Almost 4,000 companies in this sector received loans worth more than 35.7 billion rubles. In total, in 2021, 11.3 thousand companies received preferential loans in the amount of over 78.1 billion rubles.

In 2022, the Moscow Government will continue to support start-up entrepreneurs. For companies and individual entrepreneurs that have been registered in the capital for less than a year, the city will act as a guarantor 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 in the amount of up to five million rubles.

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

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