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2023: Mishustin approved the conditions for concessional lending to high-tech startups in pharmacy
In mid-January 2023, Russian Prime Minister Mikhail Mishustin approved a government decree simplifying the conditions for concessional lending to high-tech startups in pharmacy.
As reported on the official Internet portal of legal information, we are talking about amending the rules for granting a subsidy from the federal budget to the joint-stock company "Russian Bank for Support of Small and Medium-Sized Businesses" to reimburse its lost income on loans provided in 2022-2024 to high-tech, innovative small and medium-sized businesses at a preferential rate.
From the beginning of 2023, the named bank will issue preferential loans for high-tech enterprises under the new rules. The Pharmvestnik resource clarifies that at the time of applying for a loan, the borrower must work out a priority for lending to the industry, including the production of drugs, for at least six months, while earlier this period was at least a year. At the same time, the requirements for the presence of foreign capital in the structure of the company's assets have tightened: its total share, including the assets of offshore Russian firms, should not exceed 25% instead of the previous 50%.
In accordance with the new rules, the bank will be able to issue several loans to one borrower (previously the "one loan in one hand" approach was in effect). At the same time, the total amount of funds provided for one enterprise should not exceed 500 million rubles. Simplified collection of documentation: if the borrower has already received any support measures, then the package of necessary certificates and extracts for the application can be reduced.
Borrowers are also required to annually confirm the continuation of innovative activities in the chosen area. For this, as Pharmvestnik notes, in particular, acts of acceptance and transfer of scientific research and development performed within five years on an advanced product or technology, as well as documents for the transfer of rights to intellectual property, can be provided.[1]
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