OREANDA-NEWS. December 23, 2010. The Russian Bank for Development has concluded a new agreement with the Udmurtia Government Fund of SME Support (Izhevsk). Within the framework of the credit product “Micro-loan of Tier 1 PLUS” the bank has opened for the fund a credit line worth RUR 130 with a 3-year maturity, reported the press-centre of RBD.

The Udmurtia Government Fund of SME Support was established on December 15, 1995 by the Government of the Udmurtia Republic. The fund actively participates in creation of the SME support infrastructure, renders information and consultancy services and supports small and middle-sized enterprises by direct financing.

The aim of funding is micro- on-lending to entrepreneurs in Udmurtia. The allocated resources will be channeled to SMEs operating in the social sphere, industry, trade and agriculture.