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27.10.2009

3-years Credit Agreement signed between SOTSGORBANK and State Russian Bank for Development

SOTSGORBANK and Russian Bank for Development entered into third 3 years Credit Agreement. Under the current Agreement SOTSGORBANK will provide support to its clients – small and medium enterprises in the Regions. The amount of the Agreement is RUB 117 mln ($4mln), funds will be distributed in Saint-Petersburg, Moscow and Yaroslavl regions.

 

“The Credit Agreement follows the strategic business direction – work with SME clients. SOTSGORBANK raised over RUB 500 mln. ($17mln) for SME clients funding, including RUB 217 mln. ($7.5mln) from Russian Bank for Development. Bank also works with International financial development organizations in technical support and best practices in SME lending” – comments Alexander Golev, International business and financial institutions department director.

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