Russian President Vladimir Putin instructed the government, the Bank of Russia, and the SME Corporation to take additional measures by November 2021 to increase the availability and volume of concessional lending to small and medium-sized businesses. The corresponding instructions are published on the Kremlin’s official website.
According to the document, the Government of the Russian Federation should take additional measures for concessional lending to small and medium-sized businesses, ensuring, among other things, increasing the availability and volume of such lending, as well as an increase in coverage of concessional lending to small and medium-sized businesses.
The deadline for the implementation of the order is set on November 1, 2021. Russian Prime Minister, Mikhail Mishustin, the Head of the Bank of Russia, Elvira Nabiullina, the Head of the SME Corporation, Alexander Isaevich, as well as the heads of all systemically important banks have been appointed responsible.