OREANDA-NEWS. May 14, 2010. Under the SME Lending Support Program in the area of “micro-financing” a new loan agreement was signed with the Bank’s partner – Udmurtia Government Fund of SME Support (Izhevsk), reported the press-centre of RBD.

The agreement provides for a regular credit line worth RUR 100 million with a tree-year maturity under the government guarantee of the Republic of Udmurtia. The aim of funding is micro- on-lending to those entrepreneurs in Udmurtia which had shown strong demand for financial resources under the RBD’s program.

“Marked increase of successful SME projects that have been financed under the RBD’s program is an objective evidence of efficiency of the Bank’s work”, said Olesia Teploukhova, Director of SME Financing Department of RBD.

Udmurtia Government Fund of SME Support was established on December 15, 1995 by the Government of the Udmurtia Republic in compliance with the Federal Law “On 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.