Bank News

“The World of Flowers” Greenhouse Complex (Mordovia) Will be Reconstructed with the Support of SME Bank and Vozrozhdenie Bank

25 Мая 2016

Pursuant to a new SME support agreement, SME Bank and Vozrozhdenie Bankare allocating RUB 120 million for reconstruction of one of the largest greenhouses in Russia involved in cultivation of roses in the Republic of Mordovia. The project is implemented by OJSC “The World of Flowers” – a modern enterprise founded in 2005. It applies the most advanced technologies of growing roses in protected ground.

The enterprise will receive financing for seven years at an interest rate of 14.25% p.a. The loan will be partly secured by a guarantee of SME Bank for RUB 50 million.

The loan proceeds will be channeled for purchase of new equipment – systems of lighting, fogging, screening, and plant treatment with special drugs.

Part of resources will be allocated for automation control system of ventilation on three out of the six existing hectares of the greenhouse complex, as well as for the purchase of new rose seedlings.

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