OREANDA-NEWS. July 24, 2014. The Yaroslavl branch of Sviaz-Bank (Vnesheconombank Group) has opened, within the framework of its purchase program, a revolving credit line of 120 million rubles to Vodokanal OJSC in Ivanovo, the center of a neighboring region, for a drawdown period of two years to be used by the borrower to finance its current operations.

Vodokanal OJSC in Ivanovo is one of this country’s leading utilities and is ranked among its five utility companies equipped with the industry’s most advanced machinery. The Ivanovo utility is a key element of the city’s life support system – Vodokanal OJSC makes life in the city livable – healthy and free from the threat of epidemics.

“The beginning of cooperation between our two organizations is evidence of success of the government’s policy to modernize the country’s utilities industry and give it financial support,” said Ilya Surov, manager of the Bank’s Yaroslavl branch.