URALSIB bank has received a second sum of US$10 m from the European Bank for Recostrunction and Development (EBRD) to be used to continue the Russian Small Business Fund programme, giving loans to small businesses.
Over the two years it has been working on the Russian Small Business Fund programme, URALSIB has credited at total of US$4m to more than 300 small companies in St. Petersburg. The new sum will be used for a new type of credit: with an increased term of five years, while the main part of this sum will be paid off only after the first two years.
About 10 banks provide small business loans in St. Petersburg, including BALTINVESTBANK, Vneshtorgbank, and Moscomprivatbank. Sberbank also gives loans to small business through a state programme, giving 11 loans for a total of R22.7 m last year in St. Petersburg. Source: Delovoj Petersburg
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