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VTB provides financing to state housing and utilities company in Yakutia

 
2 June 2014

VTB provides financing to state housing and utilities company in Yakutia © photoexpress.ru

VTB Bank has extended a RUB 900 million loan to the state unitary enterprise Housing and Utilities Services in the Russian Republic of Sakha (Yakutia) as part of an existing three-year credit line. The funds will finance the company’s operation.

“VTB Bank’s work with the housing and utilities services provider in Yakutia forms an important contribution to people’s welfare and comfort in the republic,” Valery Lukyanenko, VTB Bank Management Board member, said. “I am confident that this mutually advantageous cooperation will promote the state company’s growth and help improve Yakutia’s housing and utilities infrastructure.”

For reference:

Housing and Utilities Services in the Republic of Sakha (Yakutia) is a state unitary enterprise that was established in 2003 by a merger of smaller district services providers that had previously operated in Yakutia. The company provides a stable and reliable heating supply and helps ensure people have decent living standards. It is an integrated business which supplies, ships and stores fuel and energy resources and lubricants required for its core services.

Tags:
lending

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