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Russia: Regional government offered new way of small business crediting

Small and medium business now can count on financial support.

15.Aug.14 2:00 PM
By Abigail Richards


Russia: Regional government offered new way of small business crediting
Acting Vice-Governor of Nizhny Novgorod region Vladimir Ivanov has offered new effective way of crediting small and medium businesses during meeting of Regional Banks Association. This information was provided by “Kommersant” publication.

Ivanov forwarded his offer to representatives of MSP bank. This financial institution takes part in governmental program of small and medium business support. Bank is able to use its governmental contracts as main provision on credit obligations.

In this case commercial banks will get necessary financial tools and guarantees to support local business. At the same time businessmen will get effective financial tools. This program will turn out to be beneficiary for the whole region as it will give a chance to extend the pool of contractors.

According to primary information banks are ready to provide 3 billion rubles for implementing this support program.
Necessary resolution has already been made. It contains all necessary conditions. Now it have to be signed by the Governor of Nizhny Novgorod region.

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