Under a programme to encourage the financing of small and medium-sized businesses, implemented by the MSP Corporation in cooperation with the Bank of Russia, VTB has loaned RUB 250 million to Kants-Exmo, part of the EXMO State Corporation, at a fixed annual interest rate of 10 percent for one year. This is the bank’s first deal as part of the MSP Corporation Programme in the Moscow Region.
The funds will be spent on the purchase of raw materials (paper, paper products, carton etc.) and on printing and publishing and other services.
VTB was the first Russian bank to finance deals under this programme andhas already implemented over 45 deals totaling some RUB 10 billion.
Deputy President and Chairman of VTB Bank Management Board Mikhail Oseevskiy said: “VTB has been a successful participant in the MSP Corporation Programme, as evidenced by the large number of deals. Affordable loans allow enterprises to carry out long-term projects on upgrading old and building new more effective production lines which are so much in demand in this country now.”