Russian Small &
Enterprises Forum


RUB 130 billion to be allocated for business support in 2016

The Federal Corporation for the Development of Small and Medium Enterprise (SME Corporation) is planning to provide loan and guarantee support for various business projects worth RUB 130 billion in 2016 and RUB 500 billion by 2018, its CEO Alexander Braverman told journalists in Novosibirsk on Monday.

“The system of the SME Corporation, the SME Bank and regional guarantor organizations [will provide] RUB 65 billion in 2016, which will allow us to offer around 130 RUB billion in loan and guarantee support this year assuming half-and-half participation, because we typically guarantee 50%”, he said.

According to Alexander Braverman, the SME Corporation is planning to provide this support in the amount of approximately RUB 500 billion by 2018, and in no case less than RUB 450 billion.

In his turn, First Deputy Chairman of the State Duma of the Russian Federation Alexander Zhukov said that he was happy that a recent law that established the SME Corporation has become an effective mechanism.

“I can see that the law is working well. The Corporation has been actually making a very big contribution to the development of small and medium business and helping regions to develop their economies. If any additional mechanisms to develop the Corporation are needed, we will look into them. But it seems to me that even today this is a real working mechanism”, he said.

More details: http://ria.ru/economy/20160516/1434022500.html