OREANDA-NEWS. December 03, 2012. The Bank of Moscow keeps on implementing its strategy to develop cooperation with the Moscow Region. The Bank takes an active part in public auctions for a right to provide loans to the municipal units of the region within the framework of this strategy. According to the results of the recent auction the Bank of Moscow has won the right to provide a credit facility to the Korolev Town of the Moscow Region for 100 million roubles for 12 months.

The town administration attracts loan funds to finance the budget deficit of Koroliov and clear off municipal debts. Additionally, the Bank of Moscow plans to take an active part in financing programs to support and develop medium and small businesses in the town.

We also need to mark that as per the results of the auctions, which took place this October, the Bank of Moscow has already made two credit agreements with the Administration of the Korolev Town for the total amount of 200 million roubles.

"Our cooperation with the town of Korolev is another step towards strengthening relations with the municipalities of the Moscow Area and implementing the strategy of the Bank of Moscow aimed at developing the Bank’s business in the region," noted Igor Chagayev, Vice President of the Bank of Moscow.