OREANDA-NEWS. February 21, 2011. MDM Bank has signed an agreement with the Russian Bank for Development (RBD) for a 7-year credit line of RUB 440 mln under the Innovation and Modernization Financing programme. Under the programme, MDM Bank will provide lending for SME projects aimed at the modernization of manufacturing and the implementation of innovations.

The interest rates for small and medium enterprises will not exceed 11.5% APR. The credit resources at beneficial terms will be available to clients across the entire territory of the Bank’s presence — 163 cities in Russia.

“Lending to small and medium enterprises is one of the key lines of MDM’s business. We know the needs of our customers and seek to offer services which meet the still growing demands of business people. Therefore, in 2010 we introduced new lending offers in our product line, and we will continue improving our service packages for SMEs. MDM’s collaboration with RBD is another piece of good news for the companies who plan to introduce innovations or modernize manufacturing,” said Alexander Platonov, MDM Bank’s Head of SME Banking.