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Wednesday, January 16, 2019

Ruza municipal district receives credit extension from Bank of Moscow

The Bank of Moscow is actively participating in open tenders for the right to credit municipal entities of the Moscow region under the framework of cooperation development strategy with the Moscow region.

This has resulted in the bank being chosen as the winner for a tender for financing in the form of extending a credit line to Ruza municipal district.

The credit, in the amount of $4.18 million, will give the district the funding to cover budget deficit and also to repay municipal indebtedness.

The Bank of Moscow signed a credit agreement with the Administration of Ruza municipal district of the Moscow region in 2012 for $2.16 million.

The Bank of Moscow won 27 tenders to finance towns and districts in the Moscow region in 2013. The tenders amounted to a total of $50 million.