OREANDA-NEWS. October 14, 2008. The Russian Bank for Development within implementation of the corporate strategy of the State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” pertaining to SME lending support has extended a loan worth RUR 250 mln to Forshtadt Bank (Orenburg), reported the press-centre of RBD.

Pursuant to the inter-bank agreement the funds shall be targeted to SME lending support in the Volga Federal Okrug.

The funds allocated under the agreement shall be channeled to the technical upgrading of small and mid-sized enterprises for the purpose of productivity gain as well as to SME infrastructure support development in Orenburg.

Cooperation between RBD and AKB Forshtadt has been continuing since 2005, nearly 40 borrowers have received loans for a total of RUR 670 mln.