They want to use the funds from the sale of Yandex to support electronics manufacturers

Starting in 2022, preferential conditions will apply to manufacturers of base stations, computers and smartphones, as well as other categories of equipment. Developers can qualify for preferential loans at a rate of 1 to 5%. By granting preferences, the authorities want to replenish stocks of electronic components. The authorities also make up the difference between market and preferential rates.

As the media wrote at the end of 2023, credit organizations stopped granting loans of this type to manufacturers because they ran out of funds.

The RBC interlocutor said that funds from the sale of Yandex shares could be used to replenish resources for the issuance of preferential loans. He clarified that due to the increase in the official interest rate by the Central Bank, the granting of such loans became unprofitable and the banks fell completely into the red. 16-17 billion rubles were missing for loans.

At the same time, the source notes, the model of preferential lending to electronics developers may change. As follows from government decree No. 671, they want to start compensating manufacturers with 70% of the key rate.

But there are other applicants for these funds, he clarifies.

After foreign companies began to leave the Russian market due to the entry of the Russian Armed Forces into the territory of Ukraine, the authorities introduced the so-called voluntary contribution to the budget. It must be paid at the time of sale of Russian assets. Initially, the contribution was 10% of the transaction amount (which is already carried out with a 50% discount). In the fall of 2023, the Ministry of Finance increased it to 15%.