OREANDA-NEWS. December 17, 2012. The Bank of Moscow keeps on implementing the strategy of developing cooperation with the Moscow Area. Within its framework the Bank takes an active part in open auctions for the right to credit the Area municipalities. At the last auction the Bank won the right to extend three loans to the City of Zhukovsky, Moscow Area, to the total amount of 70 million RUR for the term of 12 months.

The local administration will use the loans to cover the city budget deficit and repay the city’s debts.

"The Bank of Moscow has already extended a few loans to the Moscow Area cities and regions. And we are happy that municipalities of the Moscow Area view the Bank of Moscow as a reliable partner", pointed out Igor Chagayev, Vice President of the Bank of Moscow.