Information service will appear in Russia to assess state support effectiveness for business

Shortly, an information service will appear in Russia that will help evaluate the effectiveness of state support measures, in particular concessional lending to businesses. The decree was signed by Prime Minister Mikhail Mishustin, the press service of the Russian government reports. The document will be published at a later date.

The service will operate based on the blockchain platform of the Federal Tax Service (FTS), to which more than 70 credit institutions are already connected. To date, they have provided loans to about 1.4 thousand companies, including backbone enterprises of industry, trade, the agro-industrial sector, and energy.

Banks participating in concessional business lending programs will provide information on loan applications and data on loans issued not only to the relevant ministries but also directly to the information service of the Federal Tax Service. Data collection and processing will be carried out online, which will greatly simplify and speed up the analysis of such support tools' availability and their effectiveness.

Recall that a wide range of measures to support business is being implemented in Bashkiria today. So, individual entrepreneurs and people with the status of self-employed in Bashkiria can receive up to 250 thousand rubles to start their own business, as of June, SMEs increased their loan portfolio by 35%, to 121.5 billion rubles. Besides, entrepreneurs of the republic are helped to develop a corporate identity for the company, and this is not a complete list of assistance measures.

Author: Roman Yakimchuk