OREANDA-NEWS. November 30, 2009. JSC VTB Bank has lent a total of RUB 6.5 billion to the Moscow region government for the term of up to two years. The credit resources are channeled by the region’s government to financing priority budget expenditures, including those of social importance, reported the press-centre of VTB Bank.

VTB cooperates with the Moscow region government under a Cooperation Agreement. Starting from 2003, the Bank has actively financed the government of the Russian capital. VTB has also organized several bonded loans for Moscow.

“The Moscow region government is one of the market’s major borrowers in the “executive bodies of the RF subjects and municipalities” category. This credit transaction carried out under the program to support Russian regions will further the development of our mutually beneficial relations and provide financial stability in the region”, Valery Lukyanenko, Member of VTB Management Board, said.