MAKHACHKALA, May 6 – RIA "Dagestan." During the Caucasus Investment Forum, Dagestan's Ministry of Economic Development and MSP Bank signed a partnership agreement to support the mono-town of Dagestanskiye Ogni. The collaboration focuses on small business development, financial access, and investment projects. A key component provides preferential financing for local entrepreneurs under a special program of Russia's Ministry of Economic Development.
One of the first beneficiaries in 2026 was generator supplier "Best Motors" which received a RUB 15-million credit agreement. Another agreement was signed with "Victoria Hotel & SPA" securing a RUB 300-million credit line for major renovations and facility expansion.
The bank had already provided the hotel with over RUB 200 million between 2021 and 2025. Gadzhi Sultanov, Head of the regional Ministry of Economic Development, stressed the importance of systematic cooperation with development institutions and encouraged entrepreneurs to use financial support mechanisms to boost economic growth, job creation and service quality.