OREANDA-NEWS. September 05, 2012. The Belgorod subsidiary of the Bank of Moscow has, within the scope of a set limit, opened credit facilities to an aggregate of RUB 320 million for financing the activities of Story-Portal and PMK-14, belonging to the Story-Portal construction group.

The funds are being provided to the companies for financing current construction projects, including the Parkovy 16-storey, monolithic, brick residential complex in Belgorod.

The Story-Portal Group is one of the biggest construction groups in the Belgorod Region. The Group’s core business consists in construction or residential and agricultural facilities in the Belgorod, Kursk and Bryansk Regions.

The Belgorod subsidiary of the Bank of Moscow is the Group’s chief lender. Since inception of the co-operation, the Bank has extended credit products totalling over RUB 650 million.

"The Bank of Moscow is today taking an active part in developing the market for lending to small and medium-sized businesses in the Black Earth Zone. Participation in projects of regional significance is one of the Bank of Moscow’s strategic tasks", commented Evgeny Monin, Head of the Directorate for Regional Business Development.