The largest banks will begin to issue

First Deputy Prime Minister Andrei Belousov instructed to expedite the granting of funds to banks for lending to the wage funds of small and medium businesses in the sectors most affected by the spread of coronavirus infection. Sberbank and VTB issued its first such loans last week. The Ministry of economic development conducts additional selection of banks for the grant that allows you to make loans for the support of employment at the rate of 0 percent.

Photo: iStock the Cabinet approved the maximum size of loans for cases on the vacation

the Bank of Russia will provide credit to organizations financing at a rate of 4 percent per annum, which combined with the budget subsidies to provide loans for SMEs payroll a 0 percent APR for up to 6 months. The government has allocated a subsidy of 2.6 billion rubles. As noted by the Minister of economic development Maxim Reshetnikov, the money for the subsidy will be allocated from the reserve Fund. The maximum value of loans issued will be determined based on number of employees and the minimum wage in the calculation of 6 months. The estimated amount of support will be around 130 billion rubles coverage – 1.5 million employees. 75 per cent guarantee cover will take over the state via the web.Of the Russian Federation.