Moscow Mayor Sobyanin Proposes Postponing Loan Payments to the Regions for Three Years

Moscow signed new cooperation agreements with the Belgorod and Tver regions, which will be valid for the next five years. At the signing ceremony held in the Marble Hall of the City Hall on Tverskaya, Moscow Mayor Sergey Sobyanin made an important financial proposal.

Sobyanin, who chairs the "State and Municipal Government" commission of the State Council, requested that the payment terms for budget loans given to the regions be postponed for three years. This proposal stands out as an economic regulation aimed at alleviating the financial burdens of regional governments, in particular.

The five-year cooperation agreements signed between Moscow and the aforementioned regions aim to strengthen inter-local government coordination both administratively and economically. The relevant institutions and officials are expected to evaluate this debt postponement proposal at the council.