OREANDA-NEWS. June 23, 2010. The process of signing the Memorandum of Understanding between Machinery & Industrial Group N.V. and its crediting banks. The intention to participate in credit profile restricting was once again  verified by 16 credit institutions.  Among them leading Russian and foreign banks. The memorandum contains main  conditions of debt restricting, terms and sequence of payment in the framework.

Credit banks consolidation on purpose of M&IG debt reduction was made possible due to the decision of the state corporation "Vnesheconombank" boarding council on the  17-th of December, 2009 to contribute to the financing of the Program "Financial enhancing and innovational development of M&IG N.V. by 2016" through stabilization grant up to 15 000 million rubles.

Those strictly targeted resources are aimed at widening of the plants working assets (salary, taxes, components and raw materials procurement) to provide stabilized functioning, investment projects financing and financial responsibilities payoff. 

According to the Memorandum terms, financial auditing and legal expertise of the company has been initiated.