South West | Finance, business

VTB to loan $49m to Northern Ossetia

5 May '10
Authorities in the Republic of Northern Ossetia intend to take out a $49m loan with VTB bank, the bank reports.

The bank reportedly won an open tender by the regional authorities.

The loan terms and interest rate have yet to be disclosed.

Under plans, the funds are to be used to finance the regional budget deficit and to redeem the regional debts.
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