OREANDA-NEWS. February 03, 2010. The Russian Bank for Development under implementation of the SME Lending Support Program has signed a loan facility agreement with the State Autonomous Establishment “Fund for SME Guarantees and Development”, reported the press-centre of RBD.

Pursuant to the agreement RBD is opening to the Fund a credit line worth RUR 50 million with a term up to 3 years for on-lending to small and medium-sized enterprises in the Vladimir Oblast. Maximal loan for an SME will amount to RUR 1 million, the Fund’s liabilities to RBD are secured by the government guarantee of the Vladimir Oblast.

The SAE of the Vladimir Oblast “Fund for SME Guarantees and Development” was established based on the Decree of the Governor of the Vladimir Oblast with the view to make available credit and other financial resources for SMEs to develop their business, a credit granting system, a system of warrantees and guarantees for liabilities of SMEs and SME infrastructure support organizations based on loan agreements and lease contracts and to facilitate SME development in the region.