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PM Mishustin instructs to extend preferential loans program for SMEs until 2030

Mikhail Mishustin instructed to provide assistance to small and medium-sized firms (SMEs), as well as self-employed people working in new Russian regions over the next few years

MOSCOW, October 6. /TASS/. Russian Prime Minister Mikhail Mishustin gave instructions to extend the program of preferential investment lending to small and medium-sized enterprises (SMEs) from key sectors until 2030, with an annual budget of up to 100 bln rubles ($993.24 mln).

"The Russian Ministry of Economic Development together with the Ministry of Finance, and with the participation of the Bank of Russia and the SME Corporation, has been instructed to ensure that the combined program of preferential investment lending for small and medium-sized enterprises operating in priority sectors is extended until 2030. Up to 100 bln rubles per year can be allocated for these purposes," the government's press department said in a statement.

Mishustin instructed to provide assistance to small and medium-sized firms (SMEs), as well as self-employed people working in new Russian regions over the next few years. "One instruction concerns the implementation of measures to support SMEs and the self-employed in the Donetsk, Lugansk people's republics, Zaporozhye, and Kherson regions in 2024-2026," the government press service said in a statement.

Relevant departments should also work on offering preferential financing to small technology companies until February 1, 2024.

Mishustin also requested the Ministries of Economic Development, Finance, and the Russian Export Center to examine expanding the number of export support centers The departments are expected to consider the possibility of increasing the number of export support centers before December 1.

Furthermore, in order to boost the export potential of small and medium-sized enterprises, Russian Railways, in collaboration with the Ministry of Transport, the regions, and the Russian Export Center, has been tasked with expanding the route network of regular logistics solutions for transporting groupage cargo of SMEs in containers by rail, as well as digitizing shippers' access to ordering and receiving transportation services.

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Mikhail Mishustin

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