Bank of Moscow Credits Chekhov Municipality of Moscow Area
OREANDA-NEWS. Within the framework of the strategy of the Bank of Moscow aimed at developing business in the Moscow Area, the Bank takes an active part in open auctions for the right to credit the Area’s municipalities.
The Bank was announced winner at the open auctions and in near future will sign municipal contracts for extending credit resources to the total of 236 million RUR with Chekhov municipality of the Moscow Area.
The purpose of the two loans amounting to 100 million RUR and 136 million RUR is to finance the budget deficit of Chekhov municipality and to repay municipal debt obligations. Subject to the results of the auctions that took place in 2012 the Bank of Moscow has already entered into two major loan agreements with the Administration of Chekhov municipality to the total of 200 million RUR.
The Bank of Moscow also plans to extend credit facilities for the financing of the city programmes to be implemented in the above municipality, take part in the regional small and medium size business support programmes, and provide complex bank services to the enterprises and organizations of the Chekhov region.