As part of its support to Russia's regions, VTB has provided a one-year RUB 400 million loan to the Administration of Tula Region.
The Administration will channel these credit resources to finance its top priority budget expenses influencing the social stability in the region, such as salaries, social obligations and utility payments.
The Bank has been actively lending to the regional budget. The total amount of funds granted by VTB to Tula Region in 2009 amounted to RUB 3 billion.
“VTB actively cooperates with administrations of Russia’s constituencies and helps them address priority targets in the economy, as well as in social and financial spheres”, said Valery Lukyanenko, Member of VTB Management Board.