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VTB signs a government contract with the Rostov Region Ministry of Finance

 
25 July 2011

© RIA Novosti

VTB Bank has won an open tender held by the Ministry of Finance of the Rostov Region for the right to finance regional budget deficit in 2011. After the auction, VTB signed a government contract (loan agreement) with the Ministry of Finance of the Rostov Region on a RUB 3.5 billion facility maturing in over 3 years.

Citing Valery Lukyanenko, member of VTB Bank Management Board, “this transaction is in line with the Bank’s concept to develop one of its key business lines – financing municipal and regional budgets. VTB has won multiple tenders held by administrations, including municipalities of the Rostov Region.” 


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