OREANDA-NEWS. December 17, 2012. VTB Bank has signed agreements to provide RUB 3.5 billion in loans to finance the budget deficit of the Transbaikal Territory after winning two of the seven auctions announced by the territorial Ministry of Finance.

The bank has provided a one-year credit facility of RUB 1 billion to the region under the agreements signed.

"VTB has been actively cooperating with the government of the Transbaikal Territory for over seven years," said Valery Lukyanenko, member of the VTB Management Board. "The bank has traditionally given special focus to cooperating with regional and municipal administrations across Russia to help them finance important social initiatives. The financing provided to the Transbaikal Territory will support the further economic development of one of Russia’s largest regions," he added.