In 2005, the program of support for small business will be put into effect, Andrei Sharov of the Russian Ministry of Economic Development and Trade said Thursday
Published:
3 December 2004 y., Friday
In 2005, the program of support for small business will be put into effect, Andrei Sharov of the Russian Ministry of Economic Development and Trade said Thursday.
"The project is aimed to develop micro-financing institutes," Mr. Sharov said at a conference, "Microfinancing in Russia: Today and Tomorrow."
"Our task is to create a link between an enterprise and a micro-financing organization," he added. In his words, the matter concerns state subsidies covering interest rates of the bank loans for small businesses.
Mr. Sharov recalled that next year's budget allocated 1.5 billion rubles ($1 equaling 28.02 rubles) for the support of small business. State subsidies, he continued, may account for 10-15% of this sum.
The program in hand will have effect if co-financing is provided by constituent federation members and private companies.
"We will attract two rubles from constituent federation members and private investors per each federal ruble," said Mr. Sharov.
This program will facilitate access of private entrepreneurs to bank loans and make it possible to extend the micro-financing market by at least 20%, Mr. Sharov noted.
He also said that micro-financing organizations were credit cooperatives, or several entrepreneurs who unite and take a bank loan under joint surety," said Mr. Sharov.
Šaltinis:
RIA Novosti
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Commission today concluded on the existence of excessive deficits in Cyprus, Denmark and Finland and recommended deadlines for their correction to the Council.
more »
Over 2000 former construction workers in Spain and nearly 600 ex-employees of Irish glass company Waterford Crystal and its suppliers will receive a total of €11 million in aid from the EU Globalisation Adjustment Fund to help with training, business start-ups and job guidance under plans agreed by MEPs and the Council of Ministers.
more »
MEPs on Tuesday decided six top priorities and a number of additional key issues for the upcoming negotiations on the 2011 budget.
more »
The EU-China Science and Technology Week starts today at the heart of World Expo Shanghai.
more »
European Climate Action Commissioner Connie Hedegaard and European Investment Bank President Philippe Maystadt agreed on Monday to explore a joint climate finance initiative for developing countries as part of the European Union commitment made at the UN climate conference in Copenhagen last December.
more »
Sustainability, competitiveness and security of energy supply: the three pillars to the foundation of a new EU energy community.
more »
EU Trade Commissioner Karel De Gucht and Palestinian Minister of National Economy Hasan Abu-Libdeh today discussed measures to enhance EU-Palestinian bilateral trade relations and to facilitate trade of Palestinian products to EU markets.
more »
Some of the most innovative and exciting transport research projects funded by the EU are being showcased at the Transport Research Arena (TRA) in Brussels this week.
more »
Nowadays we rely heavily on satellite positioning and navigation, but the only available technology is American.
more »
The European Commission will reveal how it aims to revamp its transport networks policy in response to the challenges of the 21st century at a conference dedicated to the Trans-European Transport Network (TEN-T) in Zaragoza on 8 and 9 June.
more »