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VTB lends to the Food Fund of St. Petersburg

 
8 April 2011

© RIA Novosti, Dmitrii Korobeinikov

VTB North-West Regional Center has opened RUB 600 mln non-revolving credit facility to the State Unitary Enterprise “Food Fund of St.Petersburg” for six months to support its commercial activities.

Under the relative directive of the St.Petersburg government, the Fund participates in procurements to ensure food security of the city. For this purpose, part of the loans made by JSC VTB Bank has been channeled into purchasing grain from the State Integration Fund.


For
reference:

The State Unitary Enterprise “Food Fund of St.Petersburg” was established by the City of St.Petersburg, a constituent of the Russian Federation, under Directive No.1563 of the Government of St.Petersburg as of 14.09.2004 “On the Regional Food Fund of St.Petersburg”.

VTB North-West Regional Center (NWRC) was established on the basis of a head office of JSC VTB Bank North-West. NWRC is in charge of VTB Group business development with corporate customers of the North-West Federal Region of Russia and supervises VTB Bank branches located in St.Petersburg. Leningrad, Arkhangelsk, Vologda, Pskov, Kaliningrad, Novgorod, Murmansk and Kirovsk regions, as well as the Republic of Karelia.


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