OREANDA-NEWS. On 11 December 2006, within the framework of a visit to the Kaliningrad Region by Andrei Kostin, Chairman and CEO of VTB, a Cooperation Agreement between VTB and the Government of the Kaliningrad Region was signed. The Agreement is designed to further facilitate mutual partnership development.

The Agreement stipulates the Bank’s prospective participation in implementing investment and target regional programmes, projects on developing medium-sized business and also activities aimed at forming securities market in the Kaliningrad Region.

Pursuing the agreements reached, the Kaliningrad Region Government will resort to VTB for lending to enterprises and institutions, engaged in implementing projects and programmes of significant importance for the regional economy.