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Vladimir Putin will hold a meeting on developing the banking system

July 3, 2013

The officials of the Presidential Executive Office, the government ministers responsible for finance and the economy, the Central Bank, and a number of major Russian banks will take part in the meeting, which will examine the problem of access to credit resources.

Interest rates on loans was one of the main issues raised at Mr Putin’s recent meeting with Russian business leaders, and was widely discussed at the St Petersburg International Economic Forum. Speaking at the Forum’s plenary session, the President said that access to bank loans is a key factor in business and investment activity.

On June 11, Mr Putin instructed the Government and the Central Bank to work together on drafting measures to bring down loan costs for companies in the industries, including measures to reduce the administrative burden on banks, protect creditors’ rights, and develop competition in the banking sector.

July 3, 2013