Bank of Russia to increase limit for SME lending support mechanism

From 9 January 2024, the Bank of Russia increases  the aggregate limit set for the mechanism to support lending to small and medium-sized enterprises (SMEs) from ₽288.3 billion to ₽320 billion. Of this amount, ₽256 billion are intended for systemically important credit institutions.

The increased limit will allow banks participating in the mechanism to grant in 2024 investment loans of up to ₽100 billion as part of the programme combining two types of support — subsidising under the 1764 Programme implemented by the Russian Ministry of Economic Development and preferential funding under the Lending Incentive Programme of the Bank of Russia and JSC RSMB Corporation.

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