OREANDA-NEWS. June 10, 2008.  The Bank of Moscow and Open Joint Stock Company "Russian Railways" (OJSC "RZhD") have signed an Agreement for Cooperation regulating the general principles of the cooperation between the two Parties to this Agreement.

The Parties were represented at the ceremony of signing the Agreement by the President of OJSC "Russian Railways" Vladimir Yakunin and the President of OJSC "The Bank of Moscow" — Andrei Borodin.

This Agreement was concluded with the purpose of establishing and developing mutually beneficial cooperation as well as developing the key ares of activity by means of concluding contracts and agreements in the following areass:
• implementation of joint investment projects;
• funding arrangements for the OJSC "RZhD" projects on account of funds from international financial organisations;
• provision of guarantees for OJSC "RZhD";
• funding arrangements for OJSc "RZhD";
• provision by the Bank of financial consulting services on issues related to implementation of joint projects;
• development and implementation of hi-tech banking services for organisation of cash management services and of salary projects for the structural sub-divisions of OJSC "RZhD";
• cooperation in the field of consumer crediting programmes offered by the Bank to the OJSC "RZhD" employees;
• and other areas.

The Bank of Moscow has been enjoying active cooperation with OJSC "RZhD" since 2003. Over this period the Bank has granted the OJSC "Russian Railways" credit resources to the total amount of over 20 billion roubles.