Small business microfinance volume will amount to 350 million rubles in Bashkortostan

UFA, 25 January 2017. /Bashinform News Agency,Olga Murtazina/. In the current year, the volume of microfinance to support small businesses will make 350 million rubles in Bashkortostan. In 2016, a similar figure was 302.5 million. Financial support provided more than 7 billion rubles of annual revenue and allowed to keep two thousand jobs. This was reported by the State Committee RB for Entrepreneurship and Tourism.

Small business microfinancing involves loans on favourable terms up to 3 million rubles. The availability of microfinance support to small businesses at the municipal level is provided by the activities of 10 offices of "Bashkir Microcredit Company" in the republic, including in single-industry towns.

In 2016 provision of investment loans up to 3 million rubles for a period of up to three years was initiated for the implementation of municipal business initiatives in the sphere of commodity production development. This allowed receiving the increase of volumes of small business microfinancing in agriculture by 71 percent and in production - by 45 percent at the year-end.