The Moscow region entered the top 5 regions of Russia in terms of issuing preferential loans to businesses

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The Moscow region has entered the top five regions of Russia in terms of preferential investment lending within the framework of the national project “Small and Medium Enterprises”. The Moscow region gave out 1.29 billion rubles.

“On an annualized basis, from May 2022 to May 2023, the volume of financial support for businesses under the PSK + 1764 program in the Moscow Region exceeded 5.4 billion rubles. Of these, almost 1.3 billion rubles have been allocated since the beginning of this year,” said Deputy Prime Minister and Minister of Investment, Industry and Science of the region Yekaterina Zinovieva.

The top 10 also includes the Novosibirsk Region, the Republic of Tatarstan, Moscow, the Chelyabinsk, Sverdlovsk Regions, St. Petersburg, Krasnodar and Primorsky Territories.

The project “Small and Medium Enterprises” was initiated by Russian President Vladimir Putin. The program is supervised by First Deputy Prime Minister Andrey Belousov. The total amount of loans issued at a rate of 2.5-4% for three months amounted to 20.3 billion rubles.

“The combination of concessional lending programs of the Ministry of Economic Development, the SME Corporation and the Bank of Russia became an extremely effective solution. We created a unique product for priority industries, it helped to support structural changes in the economy,” said Russian Minister of Economic Development Maxim Reshetnikov.

Most of all in the first quarter, loans were issued to manufacturing enterprises – 9.4 billion rubles. Another 76 transport companies received 7 billion rubles, and 3.8 billion were allocated to the hotel business.

“In terms of the number of recipients of preferential loans under the PSK + 1764 program, small and micro businesses are in the lead, where funds have already been allocated to 142 and 119 enterprises, respectively. In absolute terms, this is eight and almost 5.5 billion rubles,” said Alexander Isaevich, General Director of the SME Corporation.

The concessional lending program for investment purposes began operating in Russia in August 2022.

Earlier, the governor of the Moscow region, Andrey Vorobyov, recalled the importance of supporting entrepreneurs in the Moscow region. According to him, this is especially important now, when businesses need additional help.

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