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Chairman of the Board of RBD Sergey Krjukov Took Part in the Signing Ceremony of a Memorandum between Vnesheconombank and Eximbank of India on SME Support in the Russian Federation

22 Декабря 2010
In the course of Russian President Dmitry Medvedev’s formal visit to India Chairman of the Board of RBD Sergey Krjukov took part in the signing ceremony of the Memorandum of Understanding between Vnesheconombank and Eximbank of India. On behalf of Russia the Memorandum was signed by Vnesheconombank Chairman Vladimir Dmitriev and on behalf of India – by Eximbank’s Chairman and Managing Director Mr. T.C.A.Ranganathan.

Under the agreement Eximbank of India will provide RBD with $100 million under the VEB's guarantee for providing future support to small and medium-sized businesses in Russia.

The Memorandum will promote import of state-of-the-art equipment and technologies. The priority will be given to projects related to industrial engineering, purchase of hi-tech equipment and software, patients and licenses and process certification. Thereby the Memorandum expands the use of financial resources for supporting innovative projects of SMEs, modernization of production of Russian SMEs and Indian producers of high-tech products and services.

“Memorandum with India is an important stage in attracting foreign funds to implement the State SME Support Program. The attraction of resources by RBD will enable to provide loans to SMEs purchasing new hi-tech equipment for modernization production in the Russian Federation and producing tradables including for export”, said S. Krjukov.

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