Acting under the Russian regions support program, in Q1 2009 VTB Bank extended to the Ryazan Region a RUB 2.29 billion credit facility for a one-year period. The facility was agreed with the Russian Ministry of Finance.
The funds were channeled into financing the deficit of the Ryazan regional budget.
Cooperation between VTB and the Ryazan Region has been actively developing since 2005. Earlier, VTB was more than once recognized as a winner in open competition to provide credit recourses for budget needs of the Region. Nowadays, VTB is an active lender to the Ryazan Region. The volume of funds borrowed by the Ryazan Region totals RUB 2.64 billion.