OREANDA-NEWS. November 13, 2009. Under SME Lending Support program the Russian Bank for Development has extended  to VTB24 a special purpose loan worth RUR 2 billion  354 million with a three-year maturity, reported the press-centre of RBD.

In accordance with the loan facility agreement the allocated resources will be channeled to SME lending support programs implemented by VTB24. RBD funds will be granted to VTB24 customers from among small and middle enterprises both through the head office and through a wide branch network: the agreement stipulates that the loan under the RBD Program can be obtained in VTB24 branch offices in 47 member entities of the Russian Federation. Information on the regional allocation of credit resources is available on RBD Internet site.

“VTB24 possesses state-of-the-art lending techniques, a client oriented product line and a branched regional network that let the bank occupy the leading position in small business lending. Given these advantages the funds allocated by RBD will be available for small and middle industrial and innovative enterprises operating  in the area of VTB24 coverage, that absolutely corresponds with the SME government support policy”, -Sergey Krjukov, Chairman of the Board of RBD reckons.