OREANDA-NEWS. November 28, 2008. Sergey Krjukov, Chairman of the Board of the Russian Bank for Development took part in the Interregional Banking Council under the Chairman of the Council of Federation on the subject "Increasing Availability of Financial Services for Population and Small Business". The meeting was held by Sergey Mironov, Chairman of the Council of Federation, reported the press-centre of RBD.
 
In his report S. Krjukov focused on the government support to small and medium business and role of the State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” in the implementation of SME lending support objectives. Speaking about the work that was accomplished in this direction by the Russian Bank for Development who is responsible for this area within the state corporation Mr.Krjukov said that the total amount of warrantees, guarantees and loans extended by RBD under the SME lending support program exceeded RUR 9.2 billion as of November 1, 2008.

"In 2009 the State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” shall extend loans to SMEs and SME infrastructure support entities totaling RUR 30 billion", emphasized the Head of the Russian Bank for Development.

As it was stated at the meeting the RBD Program which is implemented via regional Russian banks makes financial resources available for a wide range of entrepreneurs. Next year the program will get further development including by using of a number of new instruments and by new functions that will be assigned to RBD – agency functions of the Ministry for Economic Development pertaining to the government program of subsidies to the regional budgets for SME support.

These additional measures were recently agreed at the Government Committee for SME development. The necessity of further legislation improvement, measures to be taken in the current market situation aimed at increasing the sustainability of the Russian banking system, protection of rights of lenders were also discussed at the meeting.