14 March 2011, Monday, 10:02

Bashkir business can’t figure on subsidies now

author: Alfia Sharafutdinova

The volumes of bank crediting for small and medium business will continue growing but the conditions of state support for business will be changed.

“The distribution of free money is over” – the chairman of the state business undertakings and tourism committee RB Ruslan Kinzikeev has stated at the last gathering of the Republican bankers at the National Bank RB – “We have to stop crying for the crisis aftermath and it’s high time to start thinking about further development”.

As M-r Kinzikeev reported the new Republican program for development of small and medium business is already worked up and approved by the Ministry of finances RB and it is expected the Government RB will approve it by the end of this week.

Listing the novelties of the program-2011 the head of the state committee has mentioned that such form of the state support as subsidizing, which many small enterprises couldn’t survive without during the crisis, looses its actuality today and remains active only as a stimulating factor in realization of some energy saving programs. Guarantee and micro-financing come to the fore now.

The amount of the Bail Fund in Bashkortostan exceeds 532 million rubles and considered one of the biggest in the country. In 2011 the maximal amount of a guarantee for one borrower is determined in the sum of 42 million rubles. The overall limit of guarantees is fixed in the amount, exceeding the volume of the Bail Fund three times, and makes up 1,596 billion rubles.

As for the micro-financing, as one of the most demanded forms of state support for small business, the assets of the Micro-Financing Center are increased by 28,75 million rubles in 2011 by the decision of the Government RB, thus making up 178,75 million rubles against 150 million in 2010. In parallel the interest rate on micro-loans is cut down from 13 to 11%.