VTB has signed a EUR 100 million frame loan agreement with Nordic Investment Bank (NIB).
According to the agreement, VTB will grant loans in US dollars, Euros and Rubles with a term up to 10 years to finance new projects of corporate VTB customers.
NIB program is primarily aimed at financing projects in the North-West region of the Russian Federation. The major priority sectors under the program are energy, transport, communication and infrastructure industries. The projects financed by NIB will favor ecological situation in the region.
Nordic Investment Bank was established in 1975 on the basis of the international agreement among North European countries. It holds the 416th place in the world in terms of assets. 99% of its shares belong to governments of Sweden, Denmark, Norway, Estonia, Latvia and Lithuania in stakes proportional to the GDP of every country.
Nordic Investment Bank is focused on supporting development and investment, as well as on financing ecological programs.