MOSCOW, November 28 (Itar-Tass) — The biggest part of big foreign investors are interested in the development of small and medium business, Governor of the Kaluga Region Anatoly Artamonov told a news conference at the Itar-Tass news agency on Wednesday, explaining that small and medium business is being formed around big business and takes part in the implementation of large projects.

For instance, several kinds of service may be rendered only by representatives of small business, for instance in the sphere of transport, he said.

“With this in mind, we put forth new measures of support for small and medium business,” Artamonov said.

“We created the Venture Financing Fund for the support of innovative enterprises. We are confident that it is of big importance to support innovative projects,” the governor said, stressing, “And the venture financing is the only way for this.”

“We are cutting loan interest rates. While understanding that the current level of interest rates is too high for every kind of business, we take such a responsibility,” Artamonov said. “We created a fund of guarantee of small business for those borrowers, who have nothing to secure a bank loan. The fund will become effective next year. Its activity will embrace a wide range of activities, including agricultural projects,” the governor said.

In terms of the small and medium business development, the Kaluga region is among the leaders in the country, he stated.

“As for the social situation in the region, it directly depends on wages, working place’s comfort, possibilities of professional growth, and the interest in work,” Artamonov said, adding, “In this case, a man changes an approach to his life, value his job, he has no need in drugs or alcohol.”

The Kaluga governor with satisfaction pointed to the improvement of the social climate in his region.