OREANDA-NEWS. October 12, 2009. Within the framework of implementation of the state-sponsored SME lending support program the Russian Bank for Development signed a loan agreement with Udmurtia SME Support Fund, reported the press-centre of RBD.

Pursuant to the agreement a credit line worth RUR 100 million with a tree-year maturity will be opened to the fund for the subsequent extending special-purpose loans to small and mid-sized enterprises in the Udmurtia Republic (the maximum size of a loan for each SME will amount RUR 1 million).

The signing of the loan agreement between RBD and Udmurtia SME Support Fund has become a further step in the Bank’s operations aimed at fostering micro-finance organizations supporting SMEs.

Udmurtia SME Support Fund was established on December 15, 1995 by the Government of the Udmurtia Republic in compliance with the Federal Law “On the Government Support to Small Business in the Russian Federation” as of 12.05.1995. The fund actively participates in creation of the SME support infrastructure, renders information and consultancy services and supports small and middle-sized enterprises by direct financing.