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Means for those who want to develop their business

25.04.2018

Parliamentarians in two readings adopted a law-in- draft, sent by the President Vadim Krasnoselsky. It is regarding regulating the activities of the State Reserve Fund. Earlier on March 28, the deputies adopted law-in-draft, according to which the fund will spend money on concessional loans to support agribusiness and small business entities. The fund of the state reserve is formed at the expense of means of gratuitous help to Russia.

Selection of applications from entrepreneurs on a competitive basis will be conducted by the supervisory board of the State Reserve Fund. This is a collegial body that performs supervisory, monitoring, advisory and administrative functions with respect to funds entering the fund. The board includes the head of the foundation, as well as five representatives, delegated from the Supreme Council and the government. In accordance with the amendments adopted today in two readings at once, the council will also include two representatives from the President.

The final amount of funds to be reserved in the State Reserve Fund for soft loans will be determined already on Friday at the meeting of the supervisory board. It is already known that several entrepreneurs engaged in the agro-industrial complex submitted their applications.