OREANDA-NEWS. December 12, 2012. The Bank of Moscow is developing cooperation with Ivanovo municipal enterprises. Within the framework of such cooperation the Bank of Moscow has opened two credit lines Ivgorteploenergo municipal enterprise and for ОАО Ivanovo Municipal Electrical Network. The credit lines were opened to the amount of 300 million RUR each for 21 and 36 months respectively.

The purpose of crediting is to finance the working capital and investment activity including settlements with the equipment suppliers.

"The Bank of Moscow is actively developing its cooperation with municipal enterprises and organisations supporting regional businesses", commented Eugeny Monin, Head, Regional Business Development Directorate, Corporate Sales Department of the Bank of Moscow. "Today in our development strategy we focus our efforts on financing municipal infrastructural projects that require considerable amounts of money extended for a long period of time."