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Russian government to allocate $414.59 mln to support business in Novorossiya in June

According to the Deputy Chairman of the Government of the Donetsk People's Republic Vladimir Zverkov, the additional funds will expand business support and contribute to the further development of business activity in the region

MOSCOW, May 21. /TASS/. The Russian government will allocate an additional 3.75 bln rubles ($414.59 mln) to support business in the Donetsk and Lugansk People's Republics, as well as the Zaporozhye and Kherson regions in June, the Ministry of Economic Development said in a statement.

The Ministry also said it will fund state microfinance and regional guarantee organizations, which allow entrepreneurs to receive preferential microloans and guarantee support in the event of a lack of collateral when obtaining loan resources.

"We are working on concluding agreements with the regions on the provision of subsidies. By the end of June, the funds must be made available to the regions," Deputy Minister of Economic Development Tatyana Ilyushnikova said.

According to the Deputy Chairman of the Government of the Donetsk People's Republic Vladimir Zverkov, the additional funds will expand business support and contribute to the further development of business activity in the region.

Prime Minister of Russia Mikhail Mishustin said earlier that the free economic zone regime effective in Donbass and Novorossiya will also cover at least Belgorod, Bryansk and Kursk Regions.

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