OREANDA-NEWS. January 5, 2012. SME Bank (Vnesheconombank Group), OOO Industrial Leasing (Moscow) and OOO Russian Textile (Moscow Region, Orekhovo-Zuevo district) have financed a modernization-related project for jersey fabric manufacturing.

SME Bank has provided resources under “Modernization Leasing” credit product. The total cost of the pilot project will be RUB 81 million, thereof 56 million are granted by the Bank.

The project will enable OOO Russian Textile to achieve a market share of over 20%.

At the opening of the manufacturing line Oleg Akopov, CEO of OOO Russian Textile thanked SME Bank and said that favourable lending terms and nonexistence of hidden charges are very important for start-ups. According to Mr.Akopov the new SME Bank’s program for innovations and modernization is well-timed and essential for the Russian economy.