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VTB lends to the budget of North Ossetia-Alania

30 April 2010

VTB Branch in Stavropol has extended a RUB 1,470 mln loan to the Republic of North Ossetia-Alania. The funds will be used to finance top-priority budget expenditures, including those of social character, and to repay sovereign debt.

Corresponding state contracts and loan agreements were signed after the Bank had won the open auction to provide the Republic of North Ossetia-Alania with credit resources for budget deficit coverage and sovereign debt repayment.

For reference:
The Bank has been actively financing the Republic of North Ossetia-Alania since July 2007. VTB’s share in the loans received by the Republic from lending institutions amounts to 92%.

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