VTB issued 100 billion rubles under the 1764 Program

Since the beginning of 2020, VTB has provided borrowers with more than 100 billion under the program of concessional lending to small and medium-sized businesses, approved by Decree of the Government of the Russian Federation No. 1764. The volume of loans made this year is more than three times the amount of financing provided for the same period last year. Since January 2020, almost 2,000 SMEs have received support under the 1764 Program at VTB.

The largest amount of financing was issued by VTB to SMEs in Moscow, St. Petersburg, the Kamchatka Territory, the Samara Region and the Irkutsk Region. More than a third of concessional loans this year under the program were provided by the bank for investment purposes.

“The volume of loans issued under the 1764 Program is growing from month to month. Business demand is especially high in the context of the COVID-19 pandemic, since this program is one of the most effective tools for concessional lending in the current situation. It allows entrepreneurs not only to finance current activities, but to continue to implement business development plans. In general, during the program, we provided our SME clients with about 190 billion rubles,” commented Denis Bortnikov, Deputy President and Chairman of the Management Board of VTB Bank.

"Program 1764" is being implemented in 2019-2024 and involves preferential lending at a rate not exceeding 8.5% per annum for investment purposes, replenishment of working capital or refinancing of previously issued loans. Preferential financing can be obtained by SMEs from 20 priority industries in accordance with the terms of the state program.