OREANDA-NEWS. VTB Bank has won several auctions conducted by the Finance Ministry of the Omsk Region for lending a total amount of RUB 3.6 billion to finance the region's budget deficit and to service the government's debt obligations. VTB Bank has already issued a total of RUB 1.5 billion in three-year loans under existing government contracts.

The loans will be used by the regional administration to fund priority budget items in order to ensure social stability in the region.

Valery Lukyanenko, VTB Bank Management Board member: "Regional and municipal governments have traditionally worked with VTB Bank. Our long-term cooperation with the Omsk Region has focused on many of Siberia's priority tasks the economic, social and financial spheres."