OREANDA-NEWS. July 26, 2010. Under the SME Lending Support Program RBD is increasing the number of its partners among SME infrastructure support entities. The Bank has signed a loan facility agreement with Microfinance Agency (Microfinance LLC). Pursuant to the agreement Microfinance LLC will receive a loan worth RUR 250 million at 9.5% p.a. with a three-year maturity, at that the agency’s commitments will be secured by the guarantee of the Moscow City Fund for SME Lending Support, reported the press-centre of RBD.

The objective of lending to Microfinance LLC is promotion of market of the SME microfinance services not only in Moscow and the Moscow Oblast but in some other member entities of the Russian Federation in the Central Federal Okrug. The funds provided by RBD will be channeled to SME support in construction, tourism and transport.

Microfinance Agency LLC was established in 2008 by VTB 24 (CJSC) and Non-profit Partnership “Moscow Center for Development of Entrepreneurship” with the view to facilitate access of SMEs of Moscow and the Moscow Oblast to financial resources, reduction of illegal money turnover, and development of qualification of entrepreneurs working with borrowed funds. As of today the Agency is included in the Moscow City list of SME infrastructure support entities.