OREANDA-NEWS. April 21, 2009. A meeting of Supervisory Board of the Russian Bank for Development was held. It was chaired by Mikhail Kopeikin, member of the Board – Deputy Chairman of Vnesheconombank, reported the press-centre of RBD.

The Supervisory Board approved a number of documents aimed at SME lending support in the Russian Federation which were prepared following the “Procedure for Implementation of SME Lending Support by the State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” approved on February 5, 2009 by the Supervisory Board of Vnesheconombank.

The list of the documents includes “Procedure for SME Lending Support and Selecting Participants of the RBD’s Program”, “RBD’s Regulations on the SME Lending Standards”, general principals of selecting counter-party banks of RBD for SME lending and regional limits of SME lending for member-entities of the Russian Federation prepared by the RF Ministry of Economic Development.

According to Sergey Krjukov, Chairman of the Board of RBD “transparent rules and well-defined mechanisms are required for implementation of the RF Government plans for SME lending support growth in 2009 along with allocation to these objectives RUR 30 billion in the near future”. “As a result of the meeting of the Supervisory Board we can be sure that the platform for the program’s implementation is ready and as soon as the money is received it will be immediately used for small business lending through the counter-party banks”, S. Krjukov said.