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Economics & Business News

Business wanted to write off preferential loans while maintaining 90% of jobs

The public organization Opora Rossii is asking the Ministry of Economic Development (MED) to support a proposal to write off loans received by businesses during the pandemic, subject to the preservation of 90% of jobs. This was reported by TASS, referring to a letter from the president of the business association, Alexander Kalinin, to the head of the ministry, Maxim Reshetnikov.

“I ask you to support the proposal of Opora Rossii to write off the body of loans and interest on them under the payroll 3.0 program for business entities that have fulfilled their obligations to maintain employment and develop the necessary changes to the regulatory framework,” the letter says.

Business representatives believe that due to the worsening epidemiological situation in the country and the spread of restrictions due to a new wave of coronavirus, there may be adverse economic consequences for those companies that received a loan under a preferential program and committed themselves to retaining at least 90% of jobs .

The press service of the Ministry of Economic Development noted that the second stage of the concessional lending program was supported by almost 28,000 SMEs from the most affected industries. Payroll 3.0 was able to attract more than 90 billion rubles of debt capital to support more than 600,000 employees. 13.5 thousand borrowers were able to reduce the loan burden, thereby increasing the loan repayment period up to a year.

The MED believes that business is recovering, and key indicators are gradually approaching pre-pandemic levels. In particular, this happens with the help of credit support under payroll programs that the government has been implementing for the last 1.5 years.

At the end of February last year, Tatyana Ilyushnikova, deputy head of the Ministry of Economic Development, said that 98% of the businesses that took soft loans kept their jobs.

Business wanted to write off preferential loans while maintaining 90% of jobs