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Cabinet to allocate $27.8 mln to implement Russian digital products — PM

As Mikhail Mishustin noted, these funds can be used for purchase of software, licenses for it, creation of own technologies, salaries for employees and other needs

MOSCOW, August 15. /TASS/. The Russian government will further allocate almost 2.5 bln rubles ($27.8 mln) to support Russian digital technologies, Prime Minister Mikhail Mishustin said at the Cabinet meeting.

"We will further allocate 2.5 bln rubles for the program of subsidized lending to companies implementing digital transformation projects, and doing that on the basis of domestic solutions," Mishustin said. The subsidized rate for them is from 1% to 5% per annum and maximum 3% for accredited enterprises, the prime minister said. The loan amount is up to ten bln rubles ($111.3 mln).

According to the prime minister, these funds are allocated for development and implementation of Russian products in the information technology sphere. They can be used for purchase of software, licenses for it, creation of own technologies, salaries for employees and other needs.

"Such aid enjoys the demand of the business. Federal financing will help to complete implementation of earlier supported projects, which is particularly important for further digitalization and digital transformation of economic branches and in order to lower any dependence on foreign counterparts. In particular, we are implementing this using our information centers of competency, which are working in almost all sectors," he added.

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Mikhail Mishustin

Anti-Russian sanctions

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