Central regions | Finance, business

Russian Cabinet moves to support crowdfunding

7 Jun '17
Russias Ministry of Economic Development and Ministry of Finance, in collaboration with the Central Bank of Russia and a number of other experts, are expected to submit to the Cabinet by October 15, 2017 their basic roadmaps for the development and promotion of alternative finance mechanisms, including crowdfunding, crowdinvesting, and crowdlending, the Russian news agency Interfax reported.

During a meeting on May 25 which brought together members of the Presidential Council for Economic Modernization and Innovation Development, Prime Minister Dmitry Medvedev also tasked the stakeholders with developing suggestions regarding new toolsets for investing in innovative companies. A new package must include initiatives to improve legislation regulating convertible bonds, preferred stocks, and the taxation of proceeds owners gain from these.
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