OREANDA-NEWS. November 03, 2010. The Russian Bank for Development has signed with JSC CB GENBANK a SME Loan Facility Agreement worth RUR 150 million with a 3-years maturity, reported the press-centre of RBD.

The funds are allocated under the Refinancing Product that provides financing to SMEs for the following purposes: modernization of production, research activities, acquisition of inventory items, and expansion of day-to-day operations.

The RBD’s funds under the agreement will be channeled to enterprises in the Volgograd, Moscow, Novosibirsk, Omsk, and Rostov Oblasts as well as in the Krasnodar and Krasnoyarsk Krays.

The allocated resources will be forwarded to SMEs engaged in production of building materials, reequipment of motor vehicles, hotel services and foodstuff production.