The Bank of Moscow extended a $14.3 million line of credit on Monday to the KAMI Group, which includes refinancing the company's current loans and restoring working capital.
The establishment of the credit line allows the Bank of Moscow to guarantee the company’s applications for auctions for state and local contracts.
KAMI provides industrial equipment for woodworking, metalworking, furniture production and other industries. Under state and local contracts, the company does design, installation, supervision and commissioning work."We provide equipment to industrial enterprises," Nicholas Zaykin, the president of KAMI, said. "We create new industries and introduce modern technology, and we are confident that with the support of our partner — the Bank of Moscow — we will make a significant contribution to the development of the industry in Russia, to the country’s economic security, as well as to (the) import substitution program and the creation of new jobs."