OREANDA-NEWS. August 06, 2014. The Bank of Moscow started to cooperate with the Loan Guarantee Agency, having signed a cooperation agreement aimed to improve bank crediting conditions for small and medium-sized enterprises (SMEs) in the framework of the state programme of SMEs support.

The agreement was signed by the Chairman and the President of the Bank of Moscow, Mikhail Kuzovlev, and the Chairman of the Board of the Loan Guarantee Agency, Non-Bank Deposit-Credit Organisation, Galina Izotova.

The purpose of the Agreement is to extend the Bank’s crediting to small and medium-sized enterprises due to the provision by the Agency of direct loan guarantees for SMEs, syndicated guarantees and counter-guarantees under sureties of regional guaranteeing organisations.

Under the guaranties of the Agency small and medium-sized enterprises will be able to get loans from 20 million to 1 billion roubles in the Bank. At that the cooperation involves not only the extension of loans terms, but the reduction of loans interests as well.

"Today, an increase of the number of loans to small and medium-sized enterprises is a strategic goal of our bank, commented Mikhail Kuzovlev, the Chairman and the President of the Bank of Moscow. Thanks to the cooperation with the Agency, we can provide SME companies with new formats of support and significantly improve credit conditions."

Under the signed agreement, the Bank of Moscow has already provided a loan of 100 million roubles to Marat-El Company (Katyk Production and Restaurant Complex, Republic of Tatarstan). Agreement on Loan Guarantee in the amount of 25% of the transaction amount with the Agency was signed by Irkiya Tukhvatullina, the director of Marat-El Company.