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You're reading: Parliament passes law on state support for small and medium businesses
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The law deals with the following types of state financial support: partial compensation of credit interest rates, partial recovery of leasing, factoring expenditures and payments for the use of bonds; the granting of guarantees and security on credits for small and medium businesses; the provision of loans for buying and introducing new technologies; the covering of expenditures on the development of cooperation between small and medium businesses and big companies; and financial assistance for the introduction of energy saving and environmentally friendly technologies.

According to the law, state support for small and medium businesses and the infrastructure facilities of small and medium businesses includes financial and information support, consulting, including support in the sphere of innovations, science and industrial production, assistance to small and medium businesses involved in export activities, and support in the sphere of training, re-training and advanced training of business management and personnel.

The state support for small and medium businesses includes the formation of programs that are to be developed and implemented by a special agency for the development of small and medium businesses with the assistance of other central executive agencies and public organizations. Such programs will be approved by the Cabinet of Ministers within three months of the adoption of the law on the national budget for next year.

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