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A program to support entrepreneurs was developed in Russia

A program to support entrepreneurs was developed in Russia
Photo: pixabay.com
VEB.RF, together with development organizations, developed a “road map” for the national project “Small and Medium-Sized Enterprises and Support for Individual Entrepreneurship Initiatives”. The new document takes into account the conditions caused by the coronavirus pandemic.

According to the VEB press service, the program was developed jointly with the SME Corporation, DOM.RF, the MONOGOROD.RF fund, the Far East and Arctic Development Fund, VEB Ventures, as well as the “Support of Russia” and the Chamber of Commerce and Industry. One of the main measures to support business is the formation of a system for promoting the products of domestic small and medium enterprises. To do this, the roadmap proposes to use the existing capacities of existing trading companies, for example, Russian Post, Wildberries, X5 Retail Group, METRO Cash and Carry Russia.

In addition, the roadmap provides for the development of special financial products, including online lending for businesses. Such loans will be issued by subsidiaries of project participants: DOM.RF Bank and SME Bank. Separately, a preferential line of credit products was developed through SME Bank through the Post Bank. Money will be available to franchised entrepreneurs and self-employed. Particular attention was paid to projects for the development of the urban environment and ecology. Educational modules for entrepreneurs will also be available online.
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