The government will allocate 21.4 billion rubles to support backbone enterprises

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The Prime Minister of the Russian Federation Mikhail Mishustin ordered to allocate 21.4 billion rubles to backbone enterprises of industry and trade in 2023. The document was published on the website of the Government of the Russian Federation.

The support measure is designed to help hundreds of borrowing enterprises, which are of key importance for the economy, to maintain a preferential rate on loans taken in 2022 to replenish their working capital.

The support program was launched in March 2022. Eligible enterprises can receive loans at a preferential rate for the maintenance of current activities. A subsidy of up to 10 bn rubles per year is available to one organization, and up to 30 bn rubles to a group of companies.

Such enterprises include pharmaceutical companies. In addition, in April 2022, the government announced the launch of another program for organizations in the pharmaceutical and medical industries, as well as distributors of medicines and medical devices, and pharmacy chains. They can get independent bank guarantees at a preferential rate.