The Bank of Russia and the Russian Small and Medium Business Corporation have signed an information exchange agreement to bolster support for small and medium-sized enterprises (SMEs).
Under this agreement, JSC Russian Small and Medium Business Corporation will gain access to the Bank of Russia’s analytics and statistics on government-owned microfinance organizations (MFOs). This data will aid in ranking these MFOs more efficiently. Based on this ranking, MFOs will receive additional budget support to subsidize lending to SMEs. In return, the Corporation will provide the Bank of Russia with the results of the rankings and weekly reports from government-owned MFOs. The regulator plans to use this data to enhance risk management efficiency at these organizations.
As of the end of 2023, the SME loan portfolio totaled ₽80 billion, with government-owned MFOs accounting for 87% of this segment's portfolio.
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