OREANDA-NEWS. June 14, 2012. In accordance with the strategy of the Bank of Moscow aimed at developing business in the Moscow Region the Bank actively participates in the open auctions for the right to credit the municipalities of the Region.

The results of the open auctions have shown that the Bank of Moscow has won municipal contracts for extending to the municipalities loans to the total amount of over RUR 700 mln.

Thus credit lines have been opened to:
 - Klin municipal region to the total of 70 million RUR;
 - Klimovsk to the total of 80 million RUR;
 - Ruza municipal region to the total of 75 million RUR;
 - Podolsk to the total of 50 million RUR;
 - Chekhov municipal region to the total of 100 million RUR;
 - Pushkino municipal region to the total of 200 million RUR;
 - Solnechnogorsk municipal region to the total of 100 million RUR;
 - Sergiyev Posad municipal region to the total of 30 million RUR.

Credits are aimed at financing the budget deficit of the municipalities and repaying the municipal debts. At the same time the Bank of Moscow plans to extend some credit resources in order to finance the programmes implemented in the territory of said municipalities, to take part in the regional small and medium size business development and support programmes; and to provide complex banking services to enterprises and organisations located in the region.

"Cooperation with the municipalities of the Moscow Region is one of the priorities of the Bank of Moscow", said Mikhail Kuzovlev, President – Chairman of the Management Board of the Bank of Moscow. "The Bank of Moscow is oriented at maximum integration in the Region’s economy. Today we lay a special emphasis on innovative, hi-tech products and services and are ready to offer them to the people, businesses and infrastructural companies of the Moscow Region assuring the region’s activity".