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Bank of Moscow grants $30-mln loan to defense producer

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MOSCOW, July 6 (RIA Novosti) - The Bank of Moscow has granted a $30 million loan to a leading Russian defense producer, the bank's press office said Thursday.

The Bank of Moscow, majority-owned by the government of Moscow, said it had extended the $30-mln loan to the Tula Instrument-Making Design Bureau, a developer and manufacturer of high-precision weapons, under the company's export program.

Founded in 1995, the Bank of Moscow is on a list of the country's top thirty banks published by the Central Bank of Russia. Its assets stood at 259 billion rubles (about $9.5 billion) and its shareholder equity was 29 billion rubles (about $1.7 billion) as of April 1, 2006.

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