Other corporations are welcome to join the program as well.
An institution becomes involved by submitting a letter expressing intent to participate in the agreement.
The agreement calls for the group to draft "a statement of principles for creating a mortgage system for the construction and sale of housing in the City of Moscow" within 90 days.
The completed agreement will go into effect immediately. Allison, who is also the Dillon professor of government, anticipates that the new mortgage system will be available to the citizens of Moscow by the end of the year.
Luzhkov cautioned that complete development of the system could take as long as three years.
The agreement is also expected to aid Moscow's recovering and quickly-growing tourist industry. Luzhkov said that Russia is in the process of building hotels, service centers and transportation systems.
Zhurek emphasized that this agreement was not the only result of the conference. "There were many important deals signed," he said. "But none of the others has been officially announced."
According to Zhurek, the symposium has become a landmark meeting place for top world economic and business leaders.