Boris Gromov, Governor of Moscow Region and Dmitriy Orlov, President of Bank Vozrozhdeniye signed the Programme of strategic partnership till the year 2005.

The Programme is aimed at solving the priority tasks of Moscow Region related to social and economic development of the region, to its production growth and the active introduction of innovative technology, as well as making the region more attractive for investments

The partnership Programme has become a natural continuation of the relationship under the agreement entered into by Bank Vozrozhdeniye and the Moscow Region Government concerning the sphere of financial and credit relations.

The Programme has been a result of the above collaboration and is based on the extensive resources of the Bank. Vozrozhdeniye has developed a wide branch network across Moscow Region and has got the profound and unique operational experience. The Bank provides businesses, institutions and population of the Region with the comprehensive range of products and services jointly with the guaranteed level of high quality and reliability.

The accepted Programme envisages a close collaboration between the Regional Government and Bank Vozrozhdeniye in solving the important social and economic tasks of Moscow Region, such as multiple introduction of clearing settlements and the bankcard based "payroll projects", lending to the developing transport infrastructure, agricultural and industrial complexes, construction and trade industries; financial assistance in technical re-equipment of industry and gas supply of the region; servicing of the regional budget accounts; participation in implementation of the packaged mortgage programme; promoting to establishing economic cooperation between the businesses of Moscow Region and Belarus Republic.

In his address following the ceremony of signing the Programme, Boris Gromov underlined the key role of the leading Bank Vozrozhdeniye in Moscow Region:

- The quality level of bank Vozrozhdeniye is significantly higher compared to other banks operating in Moscow Region. Vozrozhdeniye is a very good, reliable and home bank for Moscow Region. The Bank has entered into agreements on joint cooperation nearly with all districts of Moscow Region:Gas pipelines have been built due to the Bank's contribution to Serebryano-Prudskiy, Taldomskiy and Lukhovitskiy districts. Vozrozhdeniye participates in all major regional programmes aimed at the further social, financial and economic recovery of Moscow Region.

In the course of answering the journalists' questions related to the prospects of the Bank's development and making comments on the importance of the above Programme, Dmitriy Orlov, President of Vozrozhdeniye emphasized the following:

- The primary task of the Bank is to assist Moscow Region in solving its social and economic issues. For instance, the Region is in the process of developing a mortgage project So far, mortgage development is in its inception, but it is quite an essential field of activity. And here is a chance for participation of our bank. We intend to double the Bank's capital by July 1st 2003. At the moment, it totals RUR 1.6 billion, and that will contribute to strengthening of the Bank's position and will ensure a successful realization of the Programme of strategic partnership recently concluded with the Moscow Region Government.