Otkritie Bank issued 1 billion rubles under the subsidy program of the Ministry of Economic Development

Otkritie Bank issued 1 billion rubles as part of the soft lending program for small and medium-sized businesses, implemented by the Ministry of Economic Development of the Russian Federation.

The program allows enterprises operating in priority sectors of the economy to attract financing for investment purposes or replenishment of working capital at a rate of up to 8.5% per annum.

“Thanks to the concessional lending program, small and medium-sized businesses have been able to attract financing on preferential terms. To date, the total amount of applications under the program, which are under consideration by the bank, is more than 10 billion rubles, and this once again confirms the interest of business in this product, ”says Elena Kuropteva, Deputy Director of the Credit Products and Technologies Department at Otkritie Bank.

Within the framework of the program, the maximum amount of financing for current purposes will be 500 million rubles for a period of up to three years, for investment purposes - 2 billion rubles for a period of up to ten years. The program is valid until 2025.