OREANDA-NEWS. January 25, 2013. Within the scope of an Agreement on co-operation signed between the Bank of Moscow and the Administration of the Ufa urban district, Republic of Bashkortostan, the Bank is taking an active part in supporting organisations involved in the providing municipal services.

The Bank of Moscow has granted a credit facility to MUP Ufa Utility Networks, a specialised municipal enterprise for maintaining the Ufa utility networks. The enterprise’s core business consists in operation and development of the heating infrastructure of the Republic of Bashkortostan’s capital. The loan of 200 million roubles was extended for a period of 24 months for the purpose of replenishing the enterprise’s circulating assets.

"These are the first steps taken by the Bank’s Ufa subsidiary within the scope of the Agreement on co-operation signed between the Bank of Moscow and the Ufa Administration for the purpose of maintaining the region’s infrastructure", commented Maxim Kokorin, Vice-President and Director of the Bank’s Corporate Sales Management Department. "Our goal is to develop long-term partnership relations with the infrastructure companies of the city and the Republic, as well as with state and municipal contractors".

Within the scope of the Agreement, the Bank of Moscow intends to support city projects in the municipal services sphere, implementation of investment projects and lending to enterprises fulfilling municipal orders. The co-operation plans also include collaboration over lending to the real sector, support for small and medium-sized businesses and provision of financial services to the populace.