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Banks issue $51.61 mln of loans to Russian businesses to pay salaries

15 banks have signed an agreement with the Ministry of Economic Development

MOSCOW, April 22. /TASS/. As of April 21, Russian banks issued interest-free loans to small and medium-sized businesses to support employment in the amount of about 4 bln rubles ($51.61 mln), press service of the Ministry of Economic Development said.

"According to monitoring data for 15 banks that have signed an agreement with the Ministry of Economic Development, as of April 21, about 4 bln rubles were issued for more than 1,800 applications for interest-free loans to support employment," the statement said.

It was noted that applications from banks participation in the 0% financing program are still being received and the Ministry of Economic Development has already received 36 applications for a total loan amount of 27 bln rubles ($348.4 mln).

Agreements have already been signed with 17 banks. Sberbank, Promsvyazbank, VTB, Alfa Bank, Russian Agricultural Bank, Asian-Pacific Bank, Sovcombank, Ak Bars, Kuznetsky, Chelyabivestbank, Sarovbiznesbank, RNCB, SMP Bank, Otkritie, Akcept Bank, Tomskpromstroybank, Vladbusinessbank are among the banks that signed the agreement, the ministry said.

Earlier, Minister of Economic Development Maxim Reshetnikov said that the government is ready to increase funding for the program of interest-free loans for paying salaries for businesses.