OREANDA-NEWS. February 01, 2012. SME Leasing has financed a modernization-related project for logging and timber production in the Tyva Republic. The lease contract with “Destin” (Kyzyl) costs RUB 56.8 million. This is the first project in Tyva implemented under the Bank’s SME Lending Support Program using leasing structures, reported the press-centre of SME Bank.

The project envisages leasing of various logging and wood processing equipment. It will enable OOO “Destin” to launch a complete manufacturing cycle including logging, processing and timber production and to create 15 new jobs.

“Tyva is among regions that suffer from disproportion between SME demand for leasing services and offers of leasing companies. However our experience proves that all Russian regions have adequate potential for implementation of leasing projects”, said Alexei Akindinov, General Director of SME Leasing.