Tekhsnabeksport and Bank of Moscow agree on cooperation

20.12.2006 // RIA Novosti

Tekhsnabeksport and Bank of Moscow have signed agreement on cooperation

Tekhstabeksport OJSC and Bank of Moscow OJSC have signed an agreement on cooperation in financing development and foreign economic projects in the nuclear power sector.
The document was signed by Director General of Tekhstabeksport Vladimir Smirnov and President of Bank of Moscow Andrey Borodin on Dec 19. Under the agreement, the sides will cooperate in financing development programs and investment projects of Tekhstabeksport, projects for attracting investments in Tekhstabeksport organizations and in implementing federal and departmental programs involving Tekhsnabeksport.

Bank of Moscow has been cooperating with Russian nuclear enterprises since 1999. Since then the bank has lent them over 20blm RUR. In Oct 2006 the bank signed an agreement on Rosatom programs financing.

Bank of Moscow and Tekhstabeksport have been cooperating since Sept 2005. This year the bank has set $220mln credit limit for Tekhstabeksport. Tekhstabeksport is part of the Rosatom structure (100% of its shares belong to the state). The company is the world’s biggest supplier of goods and services for the nuclear power cycle. It has daughter structures in Germany, Korea and Japan.