EAEU allocates over 5B rubles to subsidize joint project loans, says Mishustin

The Eurasian Economic Union (EAEU) budget has allocated more than 5 billion rubles to subsidize interest rates on loans for joint projects, Russian Prime Minister Mikhail Mishustin said during a session of the Eurasian Intergovernmental Council in Minsk, TASS reports.

According to Mishustin, EAEU businesses have shown strong interest in this support mechanism. “Over 5 billion rubles from the union’s budget have been allocated to subsidize the interest rates on loans for companies within our union that are jointly implementing public initiatives,” the prime minister said. “It is important that the number of banks and development institutions participating in the financing process is expanding. Currently, their number is about 80.”