Russian Banks Support Business With Interest-Free Loans

From April 8, a number of Russian banks will begin to issue interest-free loans to small and medium-sized enterprises to pay salaries to employees and support employment, TASS reports.  

The Central Bank will allocate 150 billion rubles for this purpose. First Deputy Prime Minister, Andrey Belousov, instructed to expedite the issuance of funds to banks for lending to salary funds of small and medium-sized businesses in the sectors most affected by the consequences of the spread of coronavirus infection. The maximum amount of loans for entrepreneurs will be determined on the basis of the number of employees in the enterprise and the minimum wage per 6 months.

Ru-Main, 08.04.2020

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