OREANDA-NEWS. July 13, 2011. Acting under state contracts, JSC VTB Bank Branch in Kostroma provided the Kostroma Region Administration with RUB 1 bln credit facilities for 12 months, reported the press-centre of VTB Bank.

The proceeds are to be used to cover the regional budget deficit and repay state debt.

Citing Valery Lukyanenko, Member of JSC VTB Bank Management Board, “VTB maintains active cooperation with administrations of Russian federal constituencies and municipalities thus assisting them to meet economic, financial and social challenges.”