OREANDA-NEWS. December 07, 2012. SME Bank (Vnesheconombank Group) has started to provide lending support to SME foreign trade operations withIndia. Moscow Credit Bank (OAO MCB) has received the first tranche of SME Bank loan for SMEs involved in foreign trade operations with India, reported the press-centre of SME Bank. 

In December 2010 Vnesheconombank and EximBank of India signed a Memorandum of Understanding for USD 100 mln of lending support to Russian SMEs involved in trade operations with counterparts in India.

In compliance with the above MoU SME Bank has provided to OAO MCB a loan of RUB 50 mln for 3 years. The funds are to be channeled to SMEs purchasing equipment, technologies, goods and services in India.