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President Putin announced additional measures to help businesses during the COVID-19 pandemic


On April 15, 2020, President Vladimir Putin announced new measures to help businesses and regions with the COVID-19 pandemic.

The following measures were announced:

∙           To add non-food products companies to the list of most affected industries.
∙           To provide small and medium enterprises with direct complimentary aid from the state - RUR 12.1 thousand per employee (the condition for receiving this aid shall be to keep at least 90% of the staff as of April 1). The money will go to pay salaries in April-May.
∙           To provide at least 75% of the wage loans with guarantees of VEB.
∙           To provide with a new special loan product - a soft loan to business to replenish working capital. The rate will be subsidized by the Government in the amount of 6% of the Central Bank's key rate. Half of the loans will be secured by state guarantees.
∙           To allocate more than 23 billion rubles to support aviation companies.
∙           To finalise the list of systemically important enterprises with clear and transparent criteria.
∙           To work out separate support measures for each of the basic support sectors of the economy.
∙           To allocate 200 billion rubles to ensure sustainability and balance of regional budgets.