Moscow, April 30, 2020 — Gazprombank became one of the first to sign a trilateral agreement with VEB.RF and the Ministry of Economic Development of the Russian Federation on implementation of the program for the support of systemic companies in accordance with a set of measures worked out by the RF Government on the instructions of the Russian President.
One of the agreement’s key points is the provision of systemic companies with available working-capital financing at an annual interest rate of no more than 5%.
Preferential credits will be given with priority to the most affected industries, such as transport, heavy machine-building, metallurgy, retail non-food trade, and so on.
Companies can apply the funds received within the framework of the program towards the remuneration of labor, insurance fees, premises and equipment leasing, etc., in accordance with the list of goals outlined in the rules of the state program.
“As a systemically-important credit organization, Gazprombank has immediately started preparatory work, since we understand the priority of such a vital objective as supporting companies that influence the economic stability of the entire country and the life of every individual,” commented Denis Kamyshev, First Vice President of Gazprombank, on the launch of the state support program.
Within the framework of the program, implementation banks have to provide systemic companies with credits at a total value of up to RUB 400 bn at a preferential interest rate. In 2020, the state will forward RUB 24 bn in banking-sector subsidies to offset the banks’ lost credit income.