OREANDA-NEWS. October 14, 2010. The Russian Bank for Development is building up the size of lending to innovation-oriented small and medium-sized enterprises, reported the press-centre of RBD.

RBD has signed a loan facility agreement worth RUR 345 million with Investtorgbank under the program “Financing for Innovations and Modernization”. The funds will be channeled to SMEs engaged in innovative and modernization projects in chemical industry, agriculture and container-glass industry.

The program “Financing for Innovations and Modernization” started in March 2010. “Until now under this program 9 loan facility agreements worth RUR 2.175 billion have been executed, and we intend to execute new agreements for a total amount of RUR 8 billion by the year end”, pointed out Dmitry Golovanov, First Deputy Chairman of the Board of RBD.