The FINANCIAL -- VTB Bank announces that it won all of the auctions organized by the government of the Udmurt Republic totaling RUB 2.25 billion with the aim of raising funds to finance the Republic’s budget deficit and to pay down the regional government’s debt.

According to VTB Bank, the credit facilities will be made available to the Republic’s administration in early July.

VTB Bank Management Board member Valery Lukyanenko said: “VTB Bank will be lending to the Udmurt Republic for the first time, and we intend to systematically develop this mutually beneficial cooperation in future”. 

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