OREANDA-NEWS. October 04, 2011. SME Bank (Vnesheconombank Group), Rosdorbank, Foundation for Promotion of Small Enterprises in Science and Technology and ZAO Electronic Special Technological Equipment (ESTO, Moscow) have commenced implementation of the innovative project for manufacturing of a new generation of laser equipment, reported the press-centre of SME Bank.

The resources under the Bank’s Financing for Innovations and Modernization Program are provided to Rosdorbank for subsequent on-lending to ESTO in the amount of RUB 75 million with a 7-years tenor. The total project cost is RUB 129 million. Foundation for Promotion of Small Enterprises in Science and Technology acts as a guarantor.

The innovators have a number of competitive advantages: a highly skilled professional team, integrated high-tech laboratories and qualified design engineering department as well as use of SEZ Zelenograd infrastructure.

SME Bank Program "Financing for Innovations and Modernization" is designed for providing affordable and long-term resources to SMEs involved in innovative and modernization projects in various industries.