1 billion rubles were allocated to support the light industry.

1 billion rubles were allocated to support the light industry.

1 billion rubles were allocated to support the light industry.

Russian Prime Minister Mikhail Mishustin signed a decree on subsidies to support light industry, the government press service reports.

Light industry enterprises are partially compensated for the cost of repayment of interest on loans, the report said. The decision applies to loans taken from 2019 to 2022 to replenish working capital, and provides for the reimbursement of 70% of the cost of interest payments. Until the end of the year, 1 billion rubles will be allocated for this support measure.

As indicated, it will be possible to receive compensation for loans issued for a period of up to three years. Subsidies to support companies will be received monthly.

The decree will help stabilize the financial situation at key enterprises in the industry, improve quality and expand the range of products for various markets.

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