OREANDA-NEWS. September 28, 2010. In view of reducing the resource cost allocated for the Program out of the National Wealth Fund and within the framework of the ongoing activities ensuring accessibility of credit resources for SMEs the Russian Bank for Development has reduced lending rates for all credit products. Thereby the total reduction for the partner-banks is 2.5%, for infrastructure organizations – up to 4.25%, reported the press-centre of RBD.

So, the following interest rates are set for the partner-banks:  Refinancing - 8% p.a., Investing – 7.5% годовых, Co-financing – 6 - 7% p.a. (depending on the partner-banks’ lending to SMEs using their own funds), Refinancing-Region – 5.5% p.a.

Moreover the changes adverted to credit products for SME infrastructure support entities. Thus for leasing companies the interest rate for the products Development and Autoleasing is 8.25% p.a. The resources cost for the product Leasing for the first-time entrepreneurs is 7.25% p.a. For regional funds – 8.25% p.a. The interest rate for microfinance organizations is 8.25-8.75% p.a. For factoring companies the resource cost is 8.25% p.a., for the product Factoring-bank the rate is 7.75% p.a.

“We have reduced the interest rates for our partners many times within this year in order to ensure accessibility of the resources for SMEs under the Program. In our opinion, new rates are very attractive for the partner-banks and consequently it will lead to reduction of interest rates for the end-users - SMEs. I’d like to accentuate that taking into account the current market environment any further reduction of interest rates isn’t anticipated”, pointed out CEO of RBD Sergey Krjukov.