OREANDA-NEWS. May 11, 2008. Within the framework of the State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” the Russian Bank for Development continues implementing its SME Loan Support Programs in the regions: the Bank has channeled additional RUR 160 million to SME development in the Southern Federal Okrug. Facility agreement for the above sum was signed between RBD and the largest bank in SFO – OJSC CB Center-Invest, reported the press-centre of RBD.
According to the agreement the funds shall be used for providing direct loans targeted to SME development in the region. The priority shall be given to industrial enterprises, and to those which implement innovative and hi-tech projects, as well as SME infrastructure projects.
In 2002 CB Center-Invest was the first participant of the RBD’s Loan Support Program. Since then 8 agreements have been signed with RBD and within the framework of those agreements 132 SMEs were granted credits for a total amount of RUR 467 million.