The Ministry of Economic Development to provide grants to social entrepreneurs

25.06.2021

Grants can be offered for creating or developing a social business.

Olesya Teterina, Deputy Director of the Ministry’s Small and Medium-Sized Business Development and Competition, provided details of this initiative at a round-table event held in the Federation’s Public Chamber on 25 June.

“We will be providing grants for social entrepreneurs totalling 1.2 billion roubles this year and 2.1 billion in 2022. The amount of support will be increased if we see that the demand is there and that subsidies are the way to encourage the creation of new social businesses or help entrepreneurs in expanding their activities”, said Teterina.

Grants can be obtained for the creation or development of social enterprises. The maximum grant amount is 500,000 roubles for all the regions, apart from the Arctic zone. For the latter, the sum will be increased to one million roubles given its special features, seasonality and pricing regime.

Source: https://www.asi.org.ru/news/2021/06/25/minek-budet-vydavat-granty-soczialnym-predprinimatelyam/