Karachay-Cherkessia plans to spend 130 million rubles to support small
and medium business in 2010, Yuga.ru reports.
The republic has won the right to subsidies for small business
support.The federal budget will issue 98 million rubles for the
Guarantee Fund for Business Support and for the formation of the
Micro-Financing Fund, established in January 2010. Federal funds will
also support innovation companies.
The Russian Ministry of Economic Development and the Economic Ministry
of Karachay-Cherkessia signed an agreement to issue 10 million rubles
for grants to new businesses.
Co-financing from the budget of the republic is equal to 2.5 million
rubles. The finances will cover up to 70% of the expenses of
businessmen, up to 300,000 rubles.
