OREANDA-NEWS. October 20, 2009. A cooperation agreement was signed by VTB24 and the Moscow Small Business Lending Assistance Fund for extending the scope of guarantee system with regard to obligations of the customers from among small businesses. The agreement was signed within the framework of the programme for granting suretyships under the bank guarantee contracts signed by small businesses and VTB24, reported the press-centre of VTB24.

Under the agreement VTB24 provides bank guarantees to small businesses according to the fund’s programme, renders information & advisory support and provides them with all-inclusive banking services.

More detail on the Moscow Small Business Lending Assistance Fund
The Moscow Small Business Lending Assistance Fund was established by Directorate for Moscow Small Business Support and Development on March 3, 2006. The Fund CEO: Alexey Mikhailovich Yermolayev. The Fund is aimed at developing the guarantee system for credits, loans and financial lease relationships of the small businesses in Moscow. As of September 18, 2009 the Fund provided suretyships for the amount of RUR 8,011 million whereof RUR 2,232 million were granted to VTB 24 (JSC) customers.