PSB will support socially significant projects in Bashkiria

Promsvyzbank (PSB) and Bashkiria entered into an agreement on cooperation in the field of socio-economic development of the republic. The development of entrepreneurship, preferential mortgage lending, as well as the implementation of national projects is among the priority areas.

The cooperation agreement was signed by the Head of the Region, Radiy Khabirov, and the chairman of the PSB, Petr Fradkov, during an online meeting. The parties discussed the bank’s participation in investment programs, public-private projects, housing finance, including social housing, and support for medium and small businesses.

In particular, they discussed the republican investment program to be supported by the bank, which is aimed at improving the investment climate in the region and is implemented jointly with the regional Development Corporation, JSC Regional Fund, and the Industrial Development Fund to finance key regional facilities.

Besides, the parties discussed a program of preferential mortgage lending. PSB will reduce the interest rate on the Family Mortgage for the purchase of new housing and the refinancing rate for employees of state-financed organizations having PSB salary cards to 3.99% per annum. For other customers, the rate will be 4.5%.

“During the coronavirus pandemic, we took unprecedented measures to increase the sustainability of the economy and business,” said Radiy Khabirov. “We are very interested in working with PSB, especially since business activity in the republic is starting to gain momentum again. I am sure we will find where to apply our joint efforts.”