Bank Moskvy AKB OAO (P) : 26.01.12 The Bank of Moscow expands its cooperation with the State Corporation Olympstroy

26.01.12. The Bank of Moscow expands its cooperation with the State Corporation Olympstroy

Upon consideration by Olympstroy of the documents provided by the Bank of Moscow the Bank has been included in the list of institutional lenders that meet the requirements and restrictions envisaged by the Procedure for making decisions on investing idle cash of the State Corporation for the building of Olympic sites and development of the city of Sochi as a mountain climate resort. Proceeds from the investment of idle cash will be used by the State Corporation Olympstroy for the construction of Olympic sites.

The Bank of Moscow has been working in cooperation with the State Corporation since 2008 placing its funds in deposit accounts.

For information:

 - the core business of the corporation is related to the construction of Olympic sites. The corporation implements a large-scale programme attracting private and state investments and creating conditions for innovative development of the city of Sochi as an all-season mountain climate resort. The State Corporation is involved in the design, construction and reconstruction of the sites, organises the maintenance and servicing of the Olympic sites, holds bids and monitors the construction of the Olympic sites implementing all the related events.

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