OREANDA-NEWS. October 7, 2011. In the course of the extended session on the Kaluga region’s comprehensive development, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Kaluga region Government entered into an Agreement on Cooperation in Providing Support for Small and Medium-Sized Enterprises.

On behalf of Vnesheconombank the Agreement was signed by Board Member – Vnesheconombank Deputy Chairman Mikhail Kopeikin and on behalf of the Kaluga region Government - by First Deputy Governor Maksim Akimov.

The Agreement aims to establish strategic partnership and promote long-term and effective cooperation in providing support for small and medium-sized enterprises (SMEs) on the territory of the Kaluga region.

The Parties agreed to use Vnesheconombank’s guarantee mechanisms when foreign financial institutions extend credits to fund regional projects on the territory of the Kaluga region.

The Agreement also provides for cooperation in taking measures for rendering the state’s non-financial assistance to small and medium-sized enterprises including information and consulting support.

This Agreement’s implementation would help to expand access to high technologies for small and medium-sized enterprises to make them more competitive, form a comprehensive system of supporting SMEs on the territory of the Kaluga region on the basis of regional measures for providing the state’s support for SMEs as well as on basis of the financial program of providing financial support for SMEs that is being implemented by Vnesheconombank through OJSC SME-Bank.