26 Mar 2020 14:33

Government in talks with Sberbank, VTB on loans to business for payment of salaries with subsidies and state guarantees - Belousov

MOSCOW. March 26 (Interfax) - The Russian government is in talks with Sberbank and VTB on the possibility of issuing loans to business for the payment of salaries with subsidies and state guarantees, First Deputy Prime Minister Andrei Belousov said during a meeting between Russian President Vladimir Putin and businessmen.

"The second arrangement which is very much sought-after, we are working on it with all speed. I would like to launch in beginning as early as next week, at least to begin rolling it out in trial mode with Sberbank and VTB - these are emergency loans for payment of salaries at subsidized rates, in extreme cases all the way down to zero, with strong guarantees, because we understand well that small business does not currently have any collateral right now," Belousov said.