The Bank of Moscow and the All-Russia public organization of small and medium entrepreneurship, OPORA ROSSII, recently signed a cooperation agreement to support SMEs.
The agreement was signed by President-Chairman of the Board of the Bank of Moscow Mikhail Kuzovlev and Alexander Brechalov, the president of OPORA ROSSII.
The signed agreement will give additional momentum to the development of small and medium business financing throughout Russia and will foster the development and implementation of state policy in respect to small and medium business.
The Bank of Moscow's small business credit portfolio increased by 2.8 percent in 2013, amounting $685 million at the beginning of this year.
The bank currently holds the leading market position in terms of small entrepreneurship financing.
The Bank of Moscow is the fifth largest bank in Russia, providing banking services to both corporations and individuals. It currently provides services to more than 100,000 corporate customers and more than 7 million citizens.
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