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Under the preferential program "1764", loans for almost Br5 trillion were issued over six years

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Photo: IZVESTIA/Sergey Lantyukhov
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Under the basic program "1764" for the period of the national project "Small and Medium Entrepreneurship and Support for Individual Entrepreneurial Initiative" loans for almost Br4.7 trillion were issued. This was reported by Deputy Minister of Economic Development Tatyana Ilyushnikova in an interview with "Izvestia.

She stressed that the most demanded measures - financial instruments, in 2020-2022 - anti-crisis programs.

"Thanks to the preferential credit program "1764", loans for almost 4.7 trillion rubles were provided over six years. This tool allowed to provide horizontal support, unlike departmental programs, which are narrowly sectoral in nature," Ilyushnikova said.

The mechanism of "umbrella" guarantees has also appeared during the National Project. As the deputy head of the Ministry of Economic Development explained, if a small and medium-sized business (SME) does not have enough property for collateral during lending, the state can assume part of the risk and act as a de facto guarantor. More support for entrepreneurs came from favorable government microloans and grants.

"If a person does not believe in the idea of his project, is not ready to take risks or invest at least a little money in it, what kind of investment from outside can we talk about? So, we have reconfigured the grant instruments and introduced a mandatory co-financing share," she emphasized.

Read more in an exclusive interview with Izvestia:

"The most popular program of preferential lending to small businesses will remain"

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