Russia is not particularly friendly to private entrepreneurship and Medvedev is trying hard to change that. Traditionally Russian economy has been dominated by state run corporations like Gazprom, the world’s biggest exporter of gas. Lack of access to easy credit and rampant corruption deters small companies from setting up business. The Germany based Transparency International has ranked Russia at 154th position out of total 178 countries surveyed in their 2010 corruption perceptions index.

Medvedev said banks need to act proactively in lending small and medium enterprises. Small and medium enterprises should be considered more for government orders, he added.Addressing the G-20 summit in Seoul, the Russian President Dmitri Medvedev urged for easy credit access, both domestic and international - to small and medium enterprises.

“One of the key tasks is to ensure an unhindered access for small business to national and international capital markets,” Medvedev said while addressing the summit. “For this we need new mechanisms. Here efforts by just one state won’t be enough.”

Russia is not particularly friendly to private entrepreneurship and Medvedev is trying hard to change that. Traditionally Russian economy has been dominated by state run corporations like Gazprom, the world’s biggest exporter of gas. Lack of access to easy credit and rampant corruption deters small companies from setting up business. The Germany based Transparency International has ranked Russia at 154th position out of total 178 countries surveyed in their 2010 corruption perceptions index.

Medvedev said banks need to act pro-actively in lending small and medium enterprises. Small and medium enterprises should be considered more for government orders, he added.