The Government Has Extended the Program of Providing State Guarantees for Loans to Support the Production Activities of Enterprises

The Government continues to support businesses within the framework of measures aimed at solving urgent tasks to ensure the economic development of the country. It was decided to extend the program for the provision of state guarantees for loans and bond loans attracted by organizations to support their production activities and capital investments for 2023. The decree was signed by Prime Minister Mikhail Mishustin.

"We hope that this will increase the attractiveness of investment in various industries and also make it possible for businesses to address some urgent tasks, such as the environmental upgrade of aluminum smelters in Bratsk, Irkutsk, Krasnoyarsk, and Novokuznetsk. And it will help improve the conditions for people living near these enterprises.," Mikhail Mishustin said at a meeting with Deputy Prime Ministers on 2 May.

Under this program, enterprises will be able to secure up to 100 percent of liabilities on loans and bond issues. Such state support helps to reduce the risks of creditors and increase the attractiveness of investments in industries important for the development of the country. In the budget for the current year, the funding for such purposes has been increased by a third, to more than 300 billion roubles.