OREANDA-NEWS. April 01, 2014. SME Bank (Vnesheconombank Group) allocates RUB 120 million for agriculture industry modernization in the Rostov Oblast.

The project is implemented by Mayak, its volume is RUB 141.7 thereof 84.7% are invested by SME Bank in a form of a loan provided via CB Kuban Credit.

The resources are allocated under SME-Maneuver credit product for 7 years at 12.25% p.a. The financing will enable to modernize the existing production: purchase of wide-span drip sprinklers and some plots of agricultural land of 1446 hectares in the Rostov Oblast

According to the Analytical Center 600 companies in the Rostov Oblast are receiving SME Bank’s lending support in the total amount of RUB 3.3 billion. Over 1200 SMEs in the region have received RUB 11.1 bln since the beginning of the SME Lending Support Program’s implementation.