PSB to support Magadan Region development projects

During the Eastern Economic Forum, the PSB and the Government of the Magadan Region signed a cooperation agreement. The document was signed by Peter Fradkov, Chairman of the PSB, and Sergey Nosov, Governor of the Magadan Region.

Under the agreement, PSB will participate in the implementation of investment and infrastructure projects, as well as in the development of business support and mortgage lending programs in the region. In addition, the cooperation will cover the service sector of state and municipal orders.

"The PSB and the Magadan Region have joined forces to unlock the industrial and economic potential inherent in this unique region. Special attention will be paid to priority projects in various sectors of the regional economy, including through the use of public-private partnership mechanisms. The region has developed such large sectors of the economy as the mining and fishing industries, small businesses and farms are actively engaged, interesting tourism projects are being implemented, and the PSB will provide comprehensive financial and non—financial support for the further dynamic development of the economy of the Magadan Region," said Peter Fradkov.

A separate area of joint work will be the development of mortgage lending programs, participation in federal initiatives to provide citizens with housing, support for housing construction, and expanding the availability of mortgage products for public sector employees. In addition, the parties plan to actively introduce a non-cash payment system for the payment of wages.

"The agreement with the PSB opens up new opportunities for the region. For us, this is an important tool that will allow us to attract additional resources and develop the economy. We also discussed the prospects of joint projects in the social sphere, including sports. I am confident that cooperation with the PSB will contribute to creating comfortable living conditions in the Magadan region," said Sergey Nosov.

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