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VTB provides 1.21 billion rouble loan to Karelia

7 September 2012

VTB provides 1.21 billion rouble loan to Karelia @ RIAN, Andrey Arkhipov

The North-West Regional Centre of VTB Bank has won nine government contracts to provide financing to the Republic of Karelia in northwest Russia.

The bank will provide credit facilities of 1.21 billion roubles to the region after winning nine public auctions. They include 150 million roubles for a term of one year, 400 million roubles for 1.5 years, 300 million roubles for two years and 360 million roubles for three years.

The funds will be provided in the form of non-revolving credit lines and will be spent on financing the regional budget deficit.

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