OREANDA-NEWS. May 19, 2008. Within the framework of corporate strategy of the State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” for the period till 2012 the Russian Bank for Development is increasing its SME loan support: a credit line with a three-year maturity has been opened to one of the major banks of the Vologodskaya Oblast – OAO KB Severgazbank, reported the press-centre of RBD.
 
In accordance with the agreement the funds shall be used for providing directed loans targeted to SME development in the region. The priority shall be given to industrial enterprises, and to those which implement innovative and hi-tech projects, as well as SME infrastructure projects.
 
Severgazbank has participated in RBD’s SME lending program since 2003. Within the framework of this cooperation the forth credit line has been opened for the bank recently. The new agreement is earmarked on enlarging the region’s share in the regional breakdown of RBD’s loan portfolio in terms of volumes of financing and number of loans.