OREANDA-NEWS. June 27, 2008. OAO Bank “Onego” (the only financial institution established in the Republic of Karelia) expresses concernment in expansion of a long-term financing of projects including SMEs according to the program of the Russian Bank for Development aimed at social and economic development of the Republic, reported the press-centre of RBD.
 
With the help of RBD Bank “Onego” implements the republican SME Program. The resources provided within the two banks cooperation are channeled to stone producing, logging and woodworking industries, fish-farming, public health service, tourism and transport infrastructure. Since the beginning of the cooperation in May 2004 32 small regional enterprises have received loans totaling RUR 100 million.
 
According to the Bank’s experts the given form of cooperation has great prospects since it enables SMEs of the Republic of Karelia to gain an access to middle-term loans for developing and expanding their business.