14 Nov 2011 15:21

Sberbank to loan 10 bln rubles to Moscow United Energy Co.

MOSCOW. Nov 14 (Interfax) - Sberbank Russia in Moscow will give a 2-year 10 billion ruble loan to Moscow United Energy Company (MOEK) , the bank reported.

The loan is mainly aimed at financing current activities and refinancing debt to commercial banks.

Moscow Sberbank and MOEK in August signed a loan agreement for 11.3 billion rubles as well as an agreement for the bank to service salary cards for 19,500 employees.

MOEK provides energy to the capital and is controlled by Moscow government.