OREANDA-NEWS. September 29, 2010. The Russian Bank for Development is reducing the cost of financial resources for small and medium-sized enterprises. Starting from September 2010 the Bank is introducing a mechanism of marking down interest rates for partners for all loan agreements executed before 2 September 2010, reported the press-centre of RBD.

Thus the reduction of interest rates that took place early in this month will touch not only new agreements but also the earlier executed ones. The obligatory condition for reduction of interest rates for previously extended loans for the RBD’s partners will be proportional reduction of interest rates (coefficients of appreciation of objects of lease, compensations and etc.) for small and medium-sized enterprises.

“Accordingly if in the previous period the average interest rate set by our partners to the end-users exceeded 15%, by the end of 2010 it will be reduced to 12%”, commented Sergey Krjukov, Chairman of the Board of RBD. According to Mr.Krjukov “The bank has repeatedly reduced interest rates this year in order to improve accessibility of resources to SMEs”.