OREANDA-NEWS. July 30, 2012. NOMOS-BANK has signed the cooperation agreement with the St. Petersburg Committee for Economic Development, Industrial Policy and Trade. The agreement will promote the development and support of the SME sector in St. Petersburg, reported the press-centre of NOMOS-BANK.

The agreement aims to make loans and other financial instruments more accessible for SMEs in Russia’s northern capital. The Committee provides financial support to small business, including various subsidies for production sector companies (loan subsidies and partial compensation of costs incurred by an SME to obtain a surety from the Guarantee Fund).

“The main objective of the agreement, which has been signed, is to lighten the financial burden on small businesses in St. Petersburg, since it can often be an insuperable barrier to business development. The cooperation between NOMOS-BANK and the St. Petersburg Committee for Economic Development, Industrial Policy and Trade will provide more opportunities for the small businesses sector to receive funding. We understand that such programmes of assistance to small businesses are rather necessary for the future development of SME business in Russia,” said Roman Lesokhin, Director of the Small-Business Department at NOMOS-BANK.