OREANDA-NEWS. August 03, 2012. The Bank of Moscow has renewed crediting of MUP Volgograd Kommunalnoye Khozyaistvo (VKKh) within the scope of an existing agreement with a debt limit of 300 million roubles. Tranche terms – 180 days. Purpose – replenishment of the enterprise’s circulating assets, reported the press-centre of Bank of Moscow.

Using the loan from the Bank of Moscow, MUP VKKh has redeemed a debt towards a gas supplier within the scope of discharge of obligations for June-July 2012, which lifted social tension in Volgograd in the municipal utilities sphere.

The Bank of Moscow was selected as the financial partner of the utility enterprise as it is a bank with the greatest competence in financing municipal utilities.

"Co-operation with the Russian regions is a major sphere of development of the Bank of Moscow’s business", commented Maxim Kokorin, Vice President of the Bank of Moscow. "In Volgograd, for instance, the Bank is participating in financing projects implemented by enterprises in the real sector of the economy and is endeavouring to become the main bank financing municipal programmes".