OREANDA-NEWS. December 17, 2010. The Russian Bank for Development and ROSAVTOBANK have concluded a loan facility agreement worth RUR 200 million under the Financing for Innovations and Modernization Program. Owing to this cooperation the developing companies can get special lending terms ROSAVTOBANK, reported the press-centre of RBD.

ROSAVTOBANK is a new partner-bank under the Financing for Innovations and Modernization Program, implemented by RBD. ROSAVTOBANK will provide loans at a rate not more that 10% p.a. The maturity will be determined individually and may be from 6 months up to 5-7 years.

Pursuant to the agreement the enterprises may use credit resources for purchase and modernization of fixed assets, renovations and introduction innovations. The agreement provides funding to projects designed to improve technical-economic indicators, industrial automation or to replace obsolete and worn-out equipment. The SMEs may also purchase technologies (patients and/or licenses), new high-tech equipment and software, certify engineering procedures. At that availability of a patient or a sectorial expertise will be welcomed.

The RBD’s Financing for Innovations and Modernization Program is designed to provide accessible and long-term resources for SMEs.