OREANDA-NEWS. Within the scope of implementing the strategy for developing co-operation with the Moscow Region, the Bank of Moscow is actively participating in open tenders for lending to Moscow Region municipalities. At the tender held on 25 March 2013, the Bank of Moscow won the right to extend a loan of 160 million rubles, for a term of 24 months, to the town of Electrostal in the Moscow Region.

During the first quarter of this year, the Bank of Moscow already won nine tender for the right to extend loans to the urban districts of Orekhovo-Zuyevo, Zhukovskiy and Electrostal and the municipalities of Ozerskiy and Sergievo-Posadskiy to a total of 500.5 million rubles. The funds are borrowed to redeem debt obligations and cover budget deficits.

The interim results indicate that, since entering the market for financing Moscow Region municipalities, the Bank of Moscow has won a total of 54 tenders for the right to extend loans to Moscow Region towns and districts to an aggregate of 3.3 billion rubles.