North West | Finance, business

VTB North-West loans $6.5m to Kaliningrad

21 Jun '10
Authorities in the city of Kaliningrad have taken out a $6.5m loan with VTB North-West bank, the bank reports.

The funds are reportedly loaned for one year, the interest rate has yet to be disclosed.

Under plans, the funds are to be used to finance the city budget deficit.
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