The Bank of Moscow extended $63.1 million in financing under surety of the Small Business Credit Assistance Fund in 2013, making it the second among the fund's partner banks by the amount of surety provided under signed agreements.
Cooperation between the Bank of Moscow and the Moscow Small Business Credit Assistance Fund started in 2006. The bank currently offers support to more than 30,000 small business enterprises in the Russian capital.
"The cooperation with Moscow Small Business Credit Assistance Fund is very important to the Bank of Moscow. Small enterprises often experience difficulties with providing the required collateral to obtain credit funds, and it is the state support offered via a surety fund in the form of surety that enabled small business to obtain credit funds necessary for their development," Ekaterina Orlova, the director of the Bank of Moscow's small business department, said.
The Bank of Moscow is the fifth largest bank in Russia, providing banking services to more than 100,000 corporate customers and more than 7 million individuals.
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