VTB, VEB.RF, and the SME Corporation have entered into a tripartite agreement to launch a new guarantee program aimed at supporting small and medium-sized businesses (SMEs) in St. Petersburg. The agreement was formalized at the St. Petersburg International Economic Forum (SPIEF-2025).

The program offers a joint guarantee from VEB.RF and the SME Corporation, covering up to 50% of the loan amount. Each organization will provide 25% coverage, which is intended to mitigate risks for banks and facilitate easier access to financing for businesses operating in key sectors of St. Petersburg’s economy.

The financing is available for terms of up to 10 years. Investment projects can receive up to 2 billion rubles, while funding for general business development is capped at 50 million rubles. The guarantee process has been streamlined for ease of access.

Denis Bortnikov, Deputy President and Chairman of the Board of VTB, stated, “We have become the first participant in this state program…Its implementation jointly with VEB.RF and the SME Corporation will become an additional driver for the development of small and medium-sized businesses in Russia and will allow enterprises to implement their investment plans and create new jobs.”

The XXVIII St. Petersburg International Economic Forum, taking place from June 18–21, 2025, centers around the theme of “Common Values as the Basis for Growth in a Multipolar World.” SPIEF-2025 anticipates hosting 20,000 representatives from 140 countries and territories. A key highlight will be the plenary session on June 20, featuring Russian President Vladimir Putin.