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Economy/Business
22 April 2020, 15:44

Bashkiria Government has signed cooperation memorandum with five large banks

The Government of Bashkortostan signed a memorandum with five major credit organizations: Russian Agricultural Bank, Uralsib Bank, Otkritie Financial Corporation, Sberbank, and Alfa Bank.
According to the press service of the regional government, the memorandum is aimed at long-term and effective cooperation to ensure socio-economic stability, taking into account external factors, including those associated with the new coronavirus spread.
The document includes measures to reduce the risks of insolvency of legal entities and individuals through restructuring and refinancing of previously issued loans, as well as to develop a system of short-term and long-term lending, including the real sector of the economy.
The memorandum will become the basis for the implementation of joint measures to finance housing construction, including the use of project finance products. In addition, it will help attract private investment in the republic, the government informs.