OREANDA-NEWS. The Bank of Moscow has extended a credit facility to Gorvodokanal Volgograda, a municipal water supply and waste water treatment enterprise, a major company in the city life support system. The extended facility amounts to 300 million RUR. The purpose of the loan is to supply water metering units to apartment blocks.

The municipal enterprise Gorvodokanal Volgograda is engaged in providing communal water supply and waste water treatment services to the communal service consumers of Volgograd including individual consumers.

"The Bank of Moscow is prepared to support programmes and projects aimed at raising the efficiency of municipal enterprises and quality of life of the city people," comments Maxim Kokorin, Vice President of the Bank of Moscow. "Our goal is to develop a long-term partner relationship with the city and municipal enterprises".

In June this year a co-operation period was entered into between the Government of Volgograd area and the Bank of Moscow with the aim of supporting the regional infrastructure. Within the framework of this Agreement the Bank of Moscow intends to support municipal projects to be implemented in the sphere of communal services and extend loans to the enterprises fulfilling municipal orders. The Bank has also expressed its readiness to implement programmes aimed at crediting small and medium size businesses applying soft lending rates and to finance investment programmes.