OREANDA-NEWS. March 02, 2011. The Russian Bank for Development has signed an agreement with MDM-Bank on extending a credit line under Financing for Innovations and Modernization Program worth RUR 440 million with a 7-year maturity, reported the press-centre of RBD.

Within the framework of RBD’s Program MDM-Bank will provide loans to SME projects in the area of innovations and modernization.

The interest rate on loans to SMEs will be not more than 11.5% p.a. The credit resources will be allocated among SMEs in 163 cities of Russia.