OREANDA-NEWS. June 05, 2013. SME Bank (Vnesheconombank Group) has concluded three loan agreements for USD 17 million under SME-Baltic credit product for SME development in the Kaliningrad, Leningrad, Novgorod and Pskov Regions as well as in St. Petersburg.

The funds are provided for 5 years. Each SME will be granted up to RUB 60 million (or USD-equivalent at the exchange rate of the Central Bank of Russia). Small and medium-sized enterprises will receive the resources via SME Bank’s partners - Legion JSCB, Investtradebank and The First Republican Bank.

Under the agreements the financing will be granted to SMEs implementing innovative, modernizational, energy efficient, resource saving and ecological projects in the Baltic Region.