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Development Fund of the Far East will send up to 5 billion rubles to support small and medium-sized businesses in the Far East - EastRussia | Far East

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The Development Fund of the Far East will send up to 5 billion rubles to support small and medium-sized businesses in the DFO

The Board of Directors of the Far East Development Fund made a decision to increase the limit of a successful program "Affordable Credit for SMEs" in 3,3 times

The Development Fund of the Far East will send up to 5 billion rubles to support small and medium-sized businesses in the DFO
Now the limit on the program of affordable loans for small and medium-sized businesses (SMEs) has been increased from 1,5 to 5 billion rubles, according to the Director General of the Far East Development Fund, Alexey Chekunkov. According to him, only a month through the offices of Sberbank, the joint program financed 46 projects in the SME segment in the amount of about 0,6 billion rubles, of which the fund allocated 334 million rubles.

"Thanks to the funds of the fund, the weighted average loan rate was 11,2 percent - this is 4-5% lower than the market average," he notes.

The SME Support Program has been implemented by the Far East Development Foundation in partnership with leading banks. The list of partner banks will be expanded. Along with Sberbank, which already participates in the joint program, the partners of the Fund will be VTB, Promsvyazbank, Gazprombank, Rosbank, Opening, Almazergienbank.

The distribution of credit limits to support entrepreneurs between banks will be based on competition based on the lowest interest rates for end borrowers.