OREANDA-NEWS. September 24, 2014. The Mayor of Sochi (Anatoly Pakhomov) and the President — Chairman of the Board of the Bank of Moscow (Mikhail Kouzovlev) have signed a Cooperation Agreement within Sochi International Investment Forum.

The agreement defines the principles of cooperation between the parties on a number of key issues of realization of socio-economic development of the resort city of Sochi. In particular, the Agreement provides for cooperation in the implementation of investment projects in the city, the formation of effective sources of social stability and improving the quality of life of the city population.

To realize the objectives of the Agreement the Bank of Moscow is ready to finance investment projects and economic subjects of Sochi for the total amount of 3 milliards roubles within 2014-2018.

It is planned that during the four years there will be financed priority projects for Sochi, including the construction of social objects (construction and reconstruction of pre-school educational institutions, fitness centres, health care facilities).