BSTDB Signs MOU with Russian Federal SME Corporation

Date: 01-Jun-2017

<!--<p> </p>--> The Black Sea Trade and Development Bank (BSTDB) signed a Memorandum of Understanding with the Russian Federal Corporation for Small and Medium Sized Entrepreneurship (“Russian SME Corporation”) in the framework of the flagship St. Petersburg International Economic Forum on 1 June 2017.


Signing the MoU, BSTDB Vice President Igor Leshukov said: “It is hard to overestimate the importance of the SME sector in creating conditions for sustainable economic growth and employment in Russia, and practically in any market economy. Therefore, this sector by definition is a priority for BSTDB as a regional development bank. Over 20% of BSTDB's financing is targeted to support small and medium-sized businesses in the Black Sea region, including Russia. The Russian SME Corporation does a great work in support of small business in Russia, and we hope that our cooperation will help expand and facilitate access for Russian enterprises to the necessary medium- and long-term financing”.


“The Memorandum between the Corporation and BSTDB will enable us to join forces in exploring and supporting promising investment projects in priority areas” – commented Alexander Braverman, Director General of the Russian SME Corporation. “Exchange of information on such projects will increase the number of SMEs receiving financial resources and support for their business development”.


Furthermore, the Memorandum aims at facilitating increased involvement of SMEs in the procurement activities of major public companies engaged in foreign trade, in particular in the Black Sea region.