Bank News

OAO «Russian Bank for Development» extended loans to small enterprises in the amount of 2.5 billion rubles at the expense of funds raised under the sovereign guarantee of the Russian Federation

19 Сентября 2005

OAO «Russian Bank for Development» extended loans to small enterprises in the amount of 2.5 billion rubles at the expense of funds raised under the sovereign guarantee of the Russian Federation.

The Federal Law "On the Federal Budget for 2004" provides for the funds in the amount of 2.5 billion rubles for the purpose of small business lending. On March 31, 2005 RBD directly borrowed funds from ING Bank N.V. under the sovereign guarantee of the Russian Federation.

Currently RBD has used all raised funds for the designated purposes. RBD has opened credit lines to 64 regional banks in all federal districts for small business lending. The maximum activity is demonstrated by the banks in Volga and Central federal districts.
The Bank’s program is aimed at financial support to the existing enterprises and first of all for the purpose of expansion of their business.

RBD extends loans to regional banks at the expense of funds raised under the sovereign guarantee at a rate 10,95% p.a. (including RBD’s margin which doesn’t exceed 2%).
Terms of loans extended to small enterprises are from 6 months to 2 years, depending upon requirements of the specific borrower, amount of loan - up to RUR 10 million. As of today over 70% of loans have been extended for a 2-years’ period.

Simultaneously RBD involves local authorities into the Program’s implementation, the Bank has already concluded cooperation agreements with 45 regions.

The Small Business Lending Support Program developed by the Russian Bank for Development is required by both small enterprises and regional banks. It is proved by the fact that practically all regional banks participating in this Program, have expressed their wish to increase the volume of lending support in connection with strong demand of small enterprises for long-term loans.

Currently the Russian Bank for Development has concluded credit facility agreements with regional banks for the total amount over RUR 5.2 rubles, including RUR 2.7 billion using the Bank’s own resources.


OAO «Russian Bank for Development» was set up at the end of 1999. The Bank is wholly owned by the Russian Federal Property Fund on behalf of the government of the Russian Federation. The major directions of the Bank’s activities are credit support for small businesses and the long-term crediting of the real economy in accordance with the priorities of the government investment policy.
Financial support to SME is accomplished in accordance with the Program of the Russian Bank for Development of  lending support to small business including farms, which was worked out together with the Russian Ministry of Economic Development and approved by the Bank’s Supervisory Board.


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