OREANDA-NEWS. April 12, 2013. SMEBank (Vnesheconombank Group) has concluded with Asia-Pacific Bank (Blagoveshensk) an agreement on a RUB 1 billion loan for SME support.

There sources under FIM-Targeted credit product are provided for 5 years and will be used for innovative, modernization-related and energy efficient projects. According to the terms of the credit product the interest rate for ultimate borrowers will not exceed 12.5% p.a.

The first agreement between Asia-Pacific Bankand SME Bank was signed in 2010. Since then the institutions have a track record of 7 loan agreements for a total amount of RUB 3.2 billion. Over 300 small and medium enterprises have received support.