PSA will provide the municipality Rostova loans amounting to 708.6 million rubles for the construction of infrastructure, micro Liventsovsky.

As the press service of the city administration, the agreement between the bank and the mayor's office will be signed today in Rostov.

reported that the size of the interest rate on the loan by the bank for a period of 3 years will be 8.25% per annum.

Redeem his administration plans to Rostov in 2007 and 2008. by income derived from the sale of land.

The press service explained that the «International Moscow Bank» was selected for project lending subprogramme «Making land utilities to housing within the federal target program« Real Estate » as a result of the mayor's office open competition. The competition, in addition to PSA, was attended by OJSC «Vneshtorgbank», OJSC «Russian Bank for Development», OJSC JSCB «Center Invest», JSCB «Bank of Moscow» and Sberbank of Russia.

Recall previous administration Rostov entered into an agreement to provide loans for the utilities district Liventsovsky with Sberbank of Russia.

But Rostov UFAS Russia demanded by 1 November to terminate the Agreement as restricting competition in the financial services market.

As explained in the agency press service of the Russian Federation on UFAS reactor, the agreement was concluded without an open competition, which is contrary to articles 13 and 14 of the Federal Law «On protection of competition in the market for financial services ».