OREANDA-NEWS. November 16, 2009. Under the SME Lending Support Program the Russian Bank for Development has extended a loan to Promsvyazbank worth RUR 776 million with a three-year maturity, reported the press-centre of RBD.

The signed loan facility agreement envisages targeted use of the RBD’s funds for SME lending according to the Promsvyazbank product range. SME lending using RBD’s funds will be done in the Promsvyazbank offices operating with SMEs – according to the agreement the funds will be available for entrepreneurs in 26 regions of Russia. The information on the regional allocation of funds is available on the RBD Internet site (www.rosbr.ru).

“The involvement in our Program such a strong “player” on the SME lending market as the Promsvyazbank will undoubtedly influence positively on this segment. Possessing the best practices, a qualified staff and a broad geographical coverage, the Promsvyazbank is regarded by RBD as a responsible partner, capable to bring the funds to a great number of targeted borrowers”, Sergey Krjukov, Chairman of the Board of RBD considers.