Tuva authorities created a committee to grant microloans

A committee to issue microloans has been created under the Foundation for Entrepreneurship Support of Tuva, the ministry of region's economy said.

The applications for microloans to the Foundation for Entrepreneurship Support of Tuva, will be considered more often. The main and the only function of the Committee on the issue of microloans is to consider the applications from entrepreneurs who want to get a loan of 100K RUR to 300K RUR. The Committee on the issue of microloans should consider the applications on a monthly basis as they are received.

The committee includes representatives of the Ministry of Agriculture and Food, State Employment Service, and Tuva Republican public organization of small and medium business Entrepreneurs of the Republic of Tuva.

As emphasized in the department, the committee will start working in November. The Foundation for Entrepreneurship Support of Tuva has already considered 20 applications for a total of 7.88M RUR, seven of which have been approved in the amount of 1.45M RUR.