OREANDA-NEWS. March 26, 2013. SME Bank (Vnesheconombank Group) has financed modernization-related project implemented by Russian Mining and Pumping Company (ZAO RGNC). The total project size is RUB 137 million, thereof 115 million are granted by SME Bank via its partner - Bank Obrazovanie.

The support is provided under Financing for Innovations and Modernization credit product; the borrowing cost for ZAO RGNC is 10% p.a.

The allocated resources have enabled the enterprise to upgrade the manufacturing facilities along the production chain from blanking operations to assembly works.