OREANDA-NEWS. On February 28, 2008 the Bank of Moscow and the Administration of the Novgorod region concluded an agreement on cooperation. The Bank was represented by its Vice-President Irina Nikitenko, the Administration was represented by the Governor of the Novgorod region Sergey Mitin.

The cooperation framework will include the efforts of the Bank of Moscow aimed at 'active mobilization of investments into the economy of the Novgorod region'. 'The Bank of Moscow is planning to participate in tenders for allocation of credit resources to the administration of the city and the region, - says the Vice President of the Bank of Moscow Irina Nikitenko. - We are also planning to implement high-tech products and services for the population of the Novgorod region'.

The Bank of Moscow is determined to continue to encourage investments into the region's enterprises by means of placement of corporate bonds as well as by means of syndicated crediting.

According to the agreement adopted, the Bank is planning to participate in the national priority projects 'Affordable and comfortable housing for the citizens of Russia', 'Agro-Industrial Development', 'Education', 'Health'. The Bank also intends to participate in the programmes aimed at credit allocation for small and medium business.

-We are ready to offer a wide choice of finance services both for legal entities and for individual clients: these range from cash and counter services, deposits and credit facilities to securities distribution, assets management and attraction of investments - says Irina Nikitenko. - I would also like to stress that the Bank of Moscow has a tremendous amount of experience in attracting investments and financing into Russia's regions. I feel certain that the development of cooperation in this area will be both mutually beneficial and successful'.