A business meeting between the top managers of IIB and their colleagues from SME Bank was held, which was dedicated to the development and the intensification of cooperation.

SME Bank is part of the Vneshekonombank’s group of the Russian Federation and implements the State program of the support of small and medium enterprises. In its turn the development of small enterprises in the member states is one of the main priorities in activities of the IIB and SME Bank completely aligns with the criteria which the IIB uses during the selection of national partnerships. In April 2013 the IIB had extended a credit line for 3 years to the SME Bank for the financing of the SMEs.

The prospects of the joint funding of Russian enterprises support programs and participation in the implementation of investment projects were discussed. Adjustment of selection criteria for funding and development of the affordable cost of credit resources for the Russian recipients of the loans were discussed among other important issues. The parties agreed to continue business communications in order to launch joint projects in SME’s sector in the second quarter of the current year already.