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Credit-Moscow Bank (OJSC) Takes Part in OPORA RUSSIA Conference

05.11.08

Olga Lygina, Credit-Moscow Bank (OJSC) First Deputy Director, took part in the conference on small-business loans held on November 01, 2008 at OPORA RUSSIA headquarters.

The conference was also attended by Irina Makieva, Deputy Head of Igor Shuvalov Administration, the First Deputy Chairman of the Russian Federation Government, Sergey Borisov, President of “OPORA RUSSIA”, Vladislav Korochkin, Andrey Korkunov and Pavel Sigal,Vice-Presidents of “OPORA RUSSIA”, Alexander Lopatin and Sergey Moiseev, Members of “OPORA RUSSIA” panel as well as representatives of banking  institutes.

Participants discussed measures taken by banks in support of crediting small-business amid the global financial crisis. Bank representatives stated that small and medium business loan programs are not reduced. At the same time banks are forced to tighten their screws on borrowers, to increase interest rates, to be more selective in their choice of borrowers etc. These measures are provoked by the rise in the cost of money on international financial markets.

The members of the conference decided to prepare proposals on finding ways out of the current situation and to discuss them on next meeting of the Government Commission on Small and Medium Business Development scheduled for November 12, 2008.



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