OREANDA-NEWS. July 21, 2009. Microcreditbank in its activity actively cooperates with international financial credit institutions. The main task of development of the relationship is attraction of external sources for project implementation related to the development of business of service customers.

The cooperation is also aimed at optimization of ties for making international settlements on bank and client operations, extending access to financial markets of developed countries, studying the experience of the organization on serving to the clients in foreign partner banks.

Presently, geographical range of external borrowings of credit resources and spectrum of instruments for their attraction is being extended by the bank. Thus, in the end of May this year a delegation of Microcreditbank consisting of employees of head office participated in annual conference of Microfinance Centre on Eastern Europe and CIS countries, held in Belgrad.

On 12 July 2009 Microcreditbank signed an Agreement with a Group on implementation of "Development of silkworm breeding in Karakalpakstan" project, which is financed by the bank due to the World Bank credit line. Recourses from this project are directed on financial support for growing of silkworm, its processing and production of silk thread in Karakalpakstan.

Together with the UNDP representative office, within the scope of implementation of "Complex development of territories" and "Increasing living standards of the population" projects, Microcreditbank carries out measures on attraction of recourses for increasing service volumes on microfinancing, creation of new microcrediting mechanisms and expansion of access of small businesses to financial resources.

Together with the World Bank representative office Microcreditbank is carrying out measures on attraction of credit lines on "Support of agricultural enterprises" project. Recourses attracted by this project will be directed on financing of entrepreneurs operating in agriculture, and working on improvement of drainage and irrigation systems.

A meeting of representatives of Microcreditbank and Russlavbank (Russia) on establishing correspondent relations and implementation of Kontakt money transfer system into Microcreditbank branches was held in July 2009.