Bank VTB to give Sverdlovsk Region 5bn

Bank VTB set a five-billion-ruble loan limit for Sverdlovsk Region. This money can be used to finance the current budget deficit, the temporary cash discrepancies, government liabilities, or loans to legal entities under the region’s state guarantees, the bank’s press officer reports.

This loan will be used in accordance with the existing legislative requirements. The money is to be obtained through a public auction among Sverdlovsk Region’s largest banks. At the moment, the region’s government is considering Bank VTB’s offer to take part in an auction that concerns the first transaction within the determined loan limit.

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