20 Apr 2020 13:46

Preferential lending program for payment of wages to be expanded to medium, large businesses - PM

MOSCOW. April 20 (Interfax) - The Russian government will expand its program of interest-free loans for salary payments to medium-sized and large businesses, Prime Minister Mikhail Mishustin said during a meeting with his deputies.

"Now, it is important that the most affected businesses, primarily small companies, begin to receive financial aid from the state. In order to support and maintain employment, we will extend the applicability of interest-free loans for paying wages to medium-sized and large companies from affected sectors. Today, small businesses and microbusinesses from corresponding sectors are able to take advantage of these loans," Mishustin said.

He said that in the framework of this program, VEB.RF was already granting guarantees for loans totaling 100 billion rubles. "Decisions on additional guarantees will be made in the near future," Mishustin said.