OREANDA-NEWS. February 15, 2013. VTB Bank has won the open tenders held by the government of the Sakhalin Region in December 2012 for the right to sign state contracts on the provision of loans to finance the Far Eastern region’s budget deficit, reported the press-centre of VTB.

VTB won five lots, for the total sum of RUB 4.25 billion.

The funds will be channelled to finance the priority budget expenditures of the Sakhalin Region to maintain social stability.

“VTB traditionally cooperates with the governments of Russian regions and municipal authorities to assist with solving their priority economic, social and financial tasks,” said Member of VTB Bank Management Board Valery Lukyanenko.