08.02.09

Recently, a meeting of the Expert Council for the Defense of Financial Market Competition of the Federal Antimonopoly Service (FAS) took place.

The main items on the agenda were ensuring that credit organizations had equal access to state funds, and that credit was made available to small and mid-sized enterprises.

According to FAS, the current practice of baring credit organizations’ from state support due to an absence of a long-term credit rating with Russian or international rating agency is unjustifiable.

The FAS believes that the fairest method of allocating state support is to base decisions on how "budget-minded" the applying organization's proposed method is and how well it might bring money to a specific economic sector.

Also, FAS proposed state guarantees for loans to small and mid-sized enterprises using the credit organization’s own funds at interest rates not exceeding the maximum determined by government regulations.

Read More about Legal Services from Alinga Consulting Group

Source: "эж-ЮРИСТ"