Putin proposed to increase the concessional lending

Russian President Vladimir Putin in an address to the citizens of the country asked the government to increase preferential loans at 2 percent per annum for businesses in the affected industries.

These loans are subject to save 90 percent of the employees. The President said that the money will go to the affected companies “in three equal tranches in June, July and August.” “And then, as we said, while maintaining the staffing company’s debt will be completely written off,” — said the Russian leader.

“This measure is in demand” and the demand was higher than initial government estimates. “Applications have been approved from 90 thousand companies 2 million 400 thousand employees”, — said Putin.

“So I propose to extend this measure to support this program. To allocate for its implementation is another 100 billion rubles.”

This is additional support companies will keep employment and will help them to quickly exit restrictions and accelerate “economic recovery and employment,” said the Russian President.

On 1 June launched a new credit program for businesses. If they can maintain at least 90% of the jobs, their loans and interest will be charged.

“the Final rate for the recipient of the preferential loan will be 2 per cent. Anything above that is subsidized by the government. The percentage will not have to pay monthly, they kapitaliserede noted earlier, the President. – In addition, 85 percent of the loan will be secured by a state guarantee”.

the Total cost of anti-crisis measures exceeded 3.3 trillion roubles, 2.5 million jobs had been maintained within the anti-crisis package.

the Russian business has maintained 650 billion rubles thanks to state support, including delay in the payment of taxes, reported earlier the head of Ministry of economic development Maxim Reshetnikov at a meeting with Russian President Vladimir Putin.