OREANDA-NEWS. The Bank of Moscow won the bids for the right to credit the budget of Pushkinsky Municipal Region of Moscow Area to the amount of 250 million RUR for the term of one year.

The Administration of Pushkinsky Municipal Region has been using the credit facilities extended by the Bank of Moscow since 2012. Over the period of co-operation the Bank of Moscow has extended loans to the region to the total of 700 million RUR.

In addition to financing the region’s budget the Bank of Moscow intends to develop long-term strategic relations with the Administration of Pushkinsky Municipal Region. Thus a working group has been organised and functions within the Administration’s structure with the purpose of sanitising the housing and utility system of the region with the support from the representatives of the Moscow Area Business Development Department of the Bank of Moscow. The services and decisions of the Bank of Moscow are expected to assist the key enterprises of the region’s housing and utility system not only in making settlements and raising profit but also in attracting significant investment loans aimed at financing modernisation and development programmes.

By the end of this year the Bank of Moscow plans to open in Pushkino a backup office and take an active part both in financing major programmes and projects and in supporting small and medium size businesses in the municipality.