The Ministry of Digital Development, Communications, and Mass Media of the Russian Federation recently communicated with major Russian financial institutions to provide domestic electronic information manufacturing manufacturers with discounted loans with an annual interest rate of 5%, with a minimum loan amount of 4 billion rubles (about 67 million US dollars), the Russian authorities hope that this measure will support the development of relevant market players.
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Industry insiders told the Russian media that the Russian electronic information industry is very much looking forward to the realization of this idea as soon as possible. At present, many manufacturers are facing the dilemma of a shortage of working capital.
They are often required to pay in full in advance when purchasing products overseas, while relevant companies seek loans from banks. Lack of collateral, government-guaranteed, and subsidized loans would effectively solve this problem.
