Business owners in North Caucasus received loans totaling 7.5 billion rubles, benefiting 200 enterprises in the region.
In a significant move to stimulate economic growth, the preferential lending program has been expanded to the Stavropol Krai region, as announced by Anatoly Pesennikov, Chairman of Sberbank's Southwestern Bank, in 2024. This program, which focuses on key sectors such as agriculture, tourism, construction, manufacturing, and services, has already benefited 17 entrepreneurs from Stavropol Krai.
The expansion of the program is expected to positively impact the development of many sectors and increase the macro-region's investment attractiveness. Since 2022, entrepreneurs from all seven subjects of the North Caucasus Federal District have utilised the funding, with a total cost of the supported projects exceeding 18.4 billion rubles.
The "Kavkaz.RF" Corporation has contributed 1.5 billion rubles to the program. Andrei Tsemahovich, First Deputy General Director of "Kavkaz.RF", reported that the program's limit was almost fully utilized, and the reduction in the Bank of Russia's key rate made the program even more accessible to regional entrepreneurs.
The most active in terms of the number of business projects were North Ossetia-Alania (66 preferential loans), Kabardino-Balkaria - 44, and Dagestan - 43. The largest projects, totaling over 7 billion rubles, are being implemented in Ingushetia.
Sberbank has also taken steps to cater to the region's diverse needs, opening an Islamic financing office in Dagestan. In January, a "Code of Honor" was developed for Dagestan residents, and brochures containing the behavioral rules were distributed at the airport.
However, it is important to note that no publicly available information on which specific person has received loans under the preferential credit program for small and medium-sized enterprises in Stavropol Krai since 2024 could be found.
This initiative underscores the commitment of Sberbank and "Kavkaz.RF" Corporation to support the growth and development of businesses in the North Caucasus Federal District, contributing to a more prosperous and vibrant region.
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