OREANDA-NEWS. June 06, 2011. The Bank of Moscow continues to actively support small and medium size enterprises (SME) within the framework of the ear-marked small and medium size business development and support programme approved by the Moscow Government for 2011 (Moscow Government Decision No. 167 dated 29 April 2011).

Under the programme, any costs incurred in connection with the payment of fees for the provision of guarantees by the Moscow Fund for Contributing to Small Size Business Crediting will be reimbursed.

In a nutshell, a part of the costs incurred by a small or medium size enterprises in connection with a credit extended by the Bank of Moscow under the guarantee provided by the Moscow Fund for Contributing to Small Size Business Crediting will be compensated to the extent of 90% of such costs (i.e. of the fees paid to the Fund for the provision of the guarantee).

The Bank of Moscow has been developing its cooperation with the Moscow Fund for Contributing to Small Size Business Crediting since 2006. Over this time the Bank of Moscow has become a leader in terms of the number of concluded loan agreements with the loans partially guaranteed by the Fund. Throughout the total period of cooperation, since 2006 to date, the Bank of Moscow has extended to small and medium size enterprises about 900 credits amounting to over RUR 3.3 bln.