Agency of Credit Guarantees

In 2014, the Russian Federation established a joint-stock company for the purposes of forming a nondeposit, credit guarantee agency. Through shared risk and state guarantees of loans, the agency seeks to have financial institutions in Russia be more inclined to lend to SMEs. The agency aims to improve overall lending conditions and increase the value of long-term credit to SMES. The joint-stock company is 100 percent owned by the Federal Agency for State Property Management.