OREANDA-NEWS. May 07, 2014. SME Bank (Vnesheconombank Group) intends to provide RUB 200 million to VTB24 for lending to enterprises in the Kaliningrad Region which suffered after closing down of Invest bankin December 2013. The resources will be provided under SME-Stability credit product.

The entrepreneurs in the Kaliningrad Region will receive lending support for up to RUB 10 million without collateral and over RUB 10 million – under a cover ratio of not less 75%. Tenor up to 1 year.

SME-Stability credit product was launched by SME Bank and CBR on December 24, 2013. Presently 10 partner banks participate in the Program in the Kaliningrad Region including Bank Evropeisky, Promsvyazbank, Energotransbank, Maritime Bank, ROST, Vozrozhdenie, URALSIB, Transcapitalbank, Locko-Bank and VTB24.