Moscow will spend about 70 billion rubles on measures to support business.

      About 70 billion rubles will be spent on providing business support measures in Moscow, Vedomosti reports with reference to Moscow Deputy Mayor for Economic Policy and Property and Land Relations Vladimir Efimov. To date, three packages of measures have been announced.

      According to Efimov, about 23 billion rubles will be spent on subsidies and exempting businesses from certain payments. 20-30 billion rubles will be spent on subsidizing the interest rate on small business loans. More than 22 billion rubles will go to deferred payments.

      It is noted that the total amount of assistance may vary depending on how popular soft loans will be among small businesses.