OREANDA-NEWS.   At the St. Petersburg International Economic Forum, the Bank of Moscow, represented by its President- Chairman of the Board Mikhail Kuzovlev, and the Ministry of Industry and Trade of the Russian Federation, represented by Minister Denis Manturov, signed a cooperation agreement for the purpose of facilitation of implementation of the state policy for the production stimulation, including within the scope of priority areas of the civil manufacturing industry.

Main areas of cooperation include the implementation of reliable standards and procedures for the extension and servicing of loans for industrial entities, as well as participants of investment projects for the establishment and development of industrial production and infrastructure, long-term industrial financing using credit facility, etc.

Among other things, the Ministry will in accordance with the established procedure submit to the Bank information about industrial projects which require loan funds, as well as about their participants. And the Bank will take part in the development of regulatory acts by the Ministry which relate to granting subsidies to refund expenditures for payment of interest on loans, as well as to using other tools to support industrial activities, the implementation of which requires the involvement of credit institutions (including by way of participation in working groups, expert review of draft documents, etc.).