The Association of Russian Banks (ARB) faced problems in the implementation of the concessional lending program 1764 (key rate plus 2.75 pp), according to the newspaper “Vedomosti”. As explained by ARB President Garegin Tosunyan, the difficulties are associated with the lack of operational interaction with the Ministry of Economy.
According to the terms of the program, the bank issues a loan at a reduced rate and receives subsidies from the Ministry of Economy in two months. “This year banks have faced a whole bunch of surprises. It began with the fact that banks stopped receiving subsidies from the ministry since December last year. The subsidy limit for the current year was brought to the banks only in March. Accordingly, in January and February, banks could not issue preferential loans. May is already ending, and most banks do not have agreements on limits signed by the ministry, ”said Mr. Tosunyan.
He added that many accredited banks stopped issuing loans under the program due to a violation of the timing of the payment of the subsidy. At the same time, the established limits will only allow banks to maintain rates on previously issued soft loans, and not to issue new ones, the President of ARB noted. The association also believes that the implementation of state programs for the issuance of concessional loans in their current form does not ensure the availability of loans for the most vulnerable categories of borrowers.
The press service of the Ministry of Economy denies problems with concessional lending. Vedomosti draws attention to the fact that the agency’s response did not contain the requested information on the number of banks with which an agreement had already been concluded for this year. The ministry said that this year the rate of issue is twice as high as in the previous year (589 billion rubles as of May 19 against 284 billion rubles for the same period last year). In addition, the government allocated an additional 8 billion rubles from the reserve fund. to subsidize a preferential rate.
Earlier, the business association “Opora Rossii” applied to the government with a request to revise the conditions of the state program 1764. Business complained that preferential loans almost approached the market.
About why “Opora Rossii” considers it necessary to change the conditions of the state program of business support – in the material “Kommersant FM”.