“Support of Russia”: the recapitalization of the state of MFIs in the Crimea will reduce the cost of borrowing for businesses

YALTA, April 19. /TASS/. Recapitalization of microfinance institutions (MFIs) of the Crimea at the expense of the state required the share that small businesses have access to cheap credit. This was stated by President of the Russian public organization of small and medium entrepreneurship “OPORA Russia” Alexander Kalinin at the Yalta international economic forum.

“We need to capitalize microfinance institutions in the Crimea, not less than 1 billion roubles in the aggregate, but because Crimea is a subsidized region, then it would need the permission of the Ministry of Finance. I believe that we are all entrepreneurs of Crimea should apply to the Ministry of Finance to be allowed to carry out the recapitalization of MFIs of the Crimea, is very important. While the requirements for small business credit history, collateral is not formed, they are too harsh,” he said.

According to Kalinina, you should also maintain a preferential reserve requirements for the Crimean banks at least two to three years, so they are not tightened credit conditions for businesses in the region.

“We must do everything to Crimean small business felt the same way at the level of interest rates, availability of money, like all of mainland Russia”, – said the President of “OPORA Russia”.

Fourth international Yalta economic forum takes place from 19 to 21 April. His main theme – “the Future of the world. The Future Of Russia”. TASS acts as the strategic partner and the official host photo Agency forum.