The Small Business Credit Assistance Fund of Moscow RECENTLY signed an agreement with NOMOS-BANK, one of the largest Russian private universal banks, to deposit $15,756,683 of temporarily free funds in the bank.
The funds will be available to NOMOS for 740 days.
NOMOS beat out seven other banks competing for the funds. The applicants were evaluated on the level of interest rates, international long-term credit rating and capital adequacy.
The Fund was established by the Moscow government in March 13, 2006, and operates under the auspices of the Department of Science, Industrial Policy and Entrepreneurship.
The Fund is financed in equal parts BY the Moscow budget and the budget of the Russian Federation. Its main activities are related to providing guarantees for bank loans and bank guarantees to small and medium-sized businesses in Moscow.
Since its inception, the Fund has awarded more than 6,000 contracts and more than $.09 billion in guarantees. It works with 45 partner banks, which are selected on a competitive basis.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme