OREANDA-NEWS. On May 30, 2008 The Russian Bank for Development has opened a credit line to SKA-Bank (Smolensk). The agreement is targeted on implementation of the corporate strategy of the State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” relating to SME lending support, reported the press-centre of RBD.
 
The signed document envisages proper use of resources allocated on SME lending. At that the priority shall be given to manufacturing, research, innovative and high-tech projects, as well as SME support infrastructure projects implemented in the Smolensk Oblast.
 
OJSC “Smolensk Joint-Stock Commercial Bank” (SKA-Bank) has been cooperating with RBD in SME lending support program since 2004. Over this period nearly 40 loans worth RUR 191.5 million have been granted to SMEs within the given program.