OREANDA-NEWS. September 24, 2009. Sergey Krjukov, Chairman of the Board of RBD took part in the All-Russia Business Forum “Development of Small and Mid-Sized Business. The Government’s Directives and Real Practice” organized by “The Vedomosti” newspaper, reported the press-centre of RBD.

The main part of the report dealt with the state-sponsored SME lending support program implemented by Vnesheconombank through the Russian Bank for Development, and the funds that have already been allocated. S.Krjukov commented on the agreed with the Bank of Russia procedure for refunding on security of loans extended by RBD to the counterparty banks. He added that within the framework of the program the Bank had started SME funding through leasing companies, micro-finance organizations and SME support funds.

The Head of RBD accentuated on the multiplicative effect of the program’s implementation, thereby the total funding will amount to about RUR 60 bln. in 2009. He said that currently the RBD’s partners under the program were already 85 banks and 8 organizations of infrastructure operating in practically all RF member entities. At that the average weighted interest rate on SME loans provided by the counterparty banks is 17.64%.

S.Krjukov participated in discussions with SME representatives, he answered their questions and explained some details, in particular the interest rate policy of the banks involved in the program.
The Forum was attended by representatives from federal and regional executive bodies, major Russian banks, NGOs, sectoral associations and regional SME support structures.