OREANDA-NEWS. January 28, 2011. Sviaz-Bank’s branch in St.Petersburg has signed a cooperation agreement with the Non-commercial Partnership “Association of Builders of Saint Petersburg” as the contracting parties announced at a press conference called to brief the media on St.Petersburg’s development plans, reported the press-centre of Sviaz-Bank.

The agreement made by the parties is designed to create favorable conditions for developing the construction market, mortgage business, and housing construction in St.Petersburg, Leningrad Region, and the Russian Federation in general.

Bilateral cooperation is intended to develop and introduce innovations in the immovable property market, draw up mortgage programs on finished building projects and those still under construction, and work out special-purpose programs to enable the country’s citizens to buy immovable property.

According to Vladimir Shamakhov, Manager of the St.Petersburg branch, the Bank is eager to get involved in planning further steps to stimulate the construction industry, provide essential banking services and products for investing the funds owned by the Builders’ Association, finance construction projects undertaken by the Builders’ Association members, and issue mortgage loans. He also said that a series of initiatives are being developed to help obtain more funding for building projects.

The press conference organizers spoke of the unique nature of the cooperation project between a Non-commercial Partnership and a bank that offers member companies of the partnership new opportunities by giving them loans and developing construction mortgage programs.

Presently, Sviaz-Bank offers a long line of mortgages at convenient interest rates.