The Ministry of Economic Development of the Russian Federation will work out mechanisms for writing off concessional loans for business, which were issued under the government decree, said the head of the ministry Maxim Reshetnikov in the short term.

He has explained that now the question on credits within the limits of the program "Fund of payment 2.0" is actual for businessmen. He has noticed that all allocated means have already reached the Ministry of Economics of the Russian Federation and over 420 billion rubles now stand in a budgetary order for write-off of those credits which have been given out to the enterprises.

According to the minister, now the department will work out the order in more detail and expects to make an appropriate initiative in the near future. Reshetnikov has explained that it will be made short enough, but not because it is "so urgently required, and that business was quiet and understood where, that, when happens".

Almost 200 thousand loan agreements were signed under the Payroll Fund 2.0 programme to the sum of over 400 billion roubles. Loans with a 2% write-off rate were given to companies with a total of 4.6 million employees.

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Author: Ksenia Gustova