On July 29, making a report on measures to support small and medium sized businesses in Tatarstan in 2014 at a briefing at Tatarstan Cabinet of Ministers, Tatarstan Minister of Economy Midkhat Shagiakhmetov said that in 2014, a total of 555 million roubles would be financed from the federal and regional budgets under the Leasing Grant programme in Tatarstan.

The speaker stressed that providing subsidies to make advance payments has remained the main measure under the Leasing Grant agreement.

"This year, the funding for businessmen implementing projects to establish family and livestock farms with the support of Tatarstan Minister of Agriculture will make up to 70 per cent of the leasing agreement cost, while the funding for residents of municipal industrial areas will be up to 50 per cent of the leasing agreement cost, " Midkhat Shagiakhmetov said.

According to the speaker, in order to increase the availability of credit resources for small and medium sized enterprises the capitalization of the Tatarstan guarantee fund has been increased this year. This will expand opportunities for entrepreneurs.

The fund to render financial support to small and medium enterprises has been established. It aims at providing loans up to 1 million roubles for 3 years maximum to entrepreneurs, running business in the real sector of the economy, 

According to Midkhat Shagiakhmetov, residents of IT-parks will be provided subsidies to reimburse expenses related to the acquisition of the equipment, with the total amount of subsidies making about 168 million roubles. The amount of subsidies to be granted to businessmen to pay interests on credits provided by Russian lending agencies will total to 13 million rubles.

"We believe that these measures should increase the attractiveness of industrial sites that are established in our municipalities, and should become an additional impetus to further development of these sites in Tatarstan municipal regions,” Midkhat Shagiakhmetov summed up.