Alfa Bank said on Thursday that it was selected as a supporting financial institution for investment projects planned by the Russian Federation.

At the end of December, an interdepartmental commission from the Ministry of Economic Development met to discuss which domestic and international banks and financiers would be optimal to partner with as it pursues its investment projects throughout the federation.

Under the program, the bank will provide financing opportunities to companies in the private sector within certain sectors that have been deemed a priority for development and economic recovery purposes.

Alfa Bank will be providing a full range of its normal banking services to these companies as well.

Alfa Bank Senior Vice President and Chief Managing Director of Corporate Business Fedor Sapronov said this solidifies the bank's status as one of Russia's leading financial institutions and that the federation has confidence in the bank's success.