The Central Bank considers it appropriate to provide small and medium-sized enterprises (SMEs) with credit vacations on a continuous basis. The regulator is ready to discuss such proposals, said Elvira Nabiullina, head of the Bank of Russia.

The Bank of Russia expressed its readiness to discuss permanent moratoriums on loans for SMEs.

In 2022, the Russian authorities allowed companies to defer loan payments or reduce payments during the grace period. Such measures were taken in the context of the crisis that followed the entry of Russian troops into the territory of Ukraine. In April, the holidays were extended until the end of this year.

According to Nabiullina, in times of general instability, small businesses take risks when they take out long-term loans.

“We see that this is important for companies in the acute phase of the crisis. And when small businesses take loans for a long time, they fear that the situation will change, that there will be difficulties. So that there is an opportunity to take credit “holidays” for one loan at a time,” said the head of the Central Bank.

He stressed that the regulator is ready to discuss options to provide holidays on an ongoing basis. Such a measure will improve the lending situation, especially in the long term.


Natalia Gormaleva

Source: RB

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