OREANDA-NEWS. January 29, 2010. The Russian Bank for Development is proceeding with SME lending in Buryatia via the SME Support Fund of the Republic of Buryatia, reported the press-centre of RBD.

Under the SME Lending Support Program the Bank has opened a credit line worth RUR 100 million with a 3-year maturity for subsequent on-lending up to RUR 1 million for a loan to small and medium-sized enterprises in the Republic of Buryatia. The Fund’s liabilities are secured by OAO Rus’-Bank.

The agreement signed between RBD and the SME Support Fund of the Republic of Buryatia is a new stage of implementation of the bank’s policy aimed at financing micro-finance organizations supporting SME.

The SME Support Fund of the Republic of Buryatia promoted by the Ministry of Economic Development and External Relations of the Republic of Buryatia was established on 20 July, 1992. The Fund is directly involved in building up SME support infrastructure, secures the liabilities of SMEs to banks and leasing companies, provides information and consultancy services and since 2009 has been providing micro-finance support to small and medium-sized enterprises in the Republic.