EDB Signs Credit Agreement with Bank BCK-Moscow
OREANDA-NEWS. March 30, 2011. Eurasian Development Bank (EDB) has signed the credit agreement with Bank CenterCredit Subsidiary Bank BCK-Moscow. The agreement was signed by EDB Management Board Deputy Chairman Marat Jaukenov and Bank BCK-Moscow Management Board Chairman Lyubov Karlash, reported the press-centre of KASE.
According to the agreement EDB allocates to Bank BCK-Moscow nonrenewable credit line in the amount of RUB450 mln for three years to fund small and medium size business (SMB) entities in the Russian Federation under EDB "Program on SMB support and development through target credit lines to financial institutions".
Bank BCK-Moscow shall independently select for funding sub-borrowers – SMB companies that comply with EDB criteria through sub-credits for the business development.
The project implementation shall facilitate creation of development of favorable conditions for sustainable development of SMB in Russia, development of a competitive environment and improvement of SMB companies competitiveness in internal and external markets, development of the infrastructure and institutional base of the Russian market economy.
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