OREANDA-NEWS. May 04, 2009. The Russian Bank for Development as a 100% subsidiary of the State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and within the SME Lending Support Program accentuates on providing equal access of SMEs to middle-term and long-term financial resources in the Russian Federation, reported the press-centre of RBD.

To that effect the bank is expanding coverage of the program – RBD has signed a facility-agreement with OAO Chelindbank, the first counter-party bank of RBD in the Chelyabinsk Oblast.

In accordance with the agreement RBD is granting the Chelindbank a targeted loan for SME lending support worth RUR 200 million with a 3-year maturity. These funds will be channeled to lending companies operating in the real economy sector; the priority shall be given to small and middle enterprises involved in innovations and industry.