Donetsk, Sep 24 - DAN. The Donetsk People’s Republic Central Republican Bank has reduced the annual interest rate under the program of microlending for legal entities and individual entreprenuers from 20 to 12 percent, the regulator’s press service reported on Thursday.

“To create a favorable environment for developing the Republic’s economy and supporting DPR economic entities, the Central Republican Bank decided to decrease the annual interest rate on the “Overdraft” Bank Product under the program of microlending for legal entities and natural persons -  entrepreneurs from 20 to  12 percent,” the report said.

The reduced rate will apply starting October 1, 2021 for new borrowers and business entities who have already received loans. The Central Republican Bank also said it planned to consider a cut in the interest rate for natural persons.

The program of microlending for natural persons - entrepreneurs was adopted in January 2021. Applications for loans opened in February.*jk