OREANDA-NEWS. December 10, 2009. The Russian Bank for Development as part of the state-sponsored SME Lending Support Program is continuing to support SMEs via micro-finance organizations. Within the framework of this program RBD has signed a loan agreement with Ugra’s Entrepreneurship Support Fund, reported the press-centre of RBD.

Pursuant to the agreement RBD will grant to the Fund a loan worth RUR 180 million in a form of a credit line with a 3-year maturity. The objective of the loan is providing micro-loans to small and medium-sized enterprises by the Fund in the territory of the okrug (the maximum loan for a small and medium-sized enterprise will amount RUR 1 million).

Ugra’s Entrepreneurship Support Fund was established in 1995 based on the Decree of the Head of Administration of the Khanty-Mansiysk Autonomous Okrug with the view to implement main directions of policy of the autonomous okrug in the area of SME support. The Fund accentuates on warranties on the SMEs liabilities to banks and leasing companies, compensation of interest rate on loans of commercial banks, micro-financing as well as consultancy and educational services.