VTB lends $226 mln to Moscow Region government

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VTB has lent 6.5 billion rubles ($226 mln) to the government of the Moscow Region which is facing financial problems, Russia's second largest bank said

MOSCOW, November 26 (RIA Novosti) - VTB has lent 6.5 billion rubles ($226 mln) to the government of the Moscow Region which is facing financial problems, Russia's second largest bank said on Thursday.

The regional government will spend the two-year loan on primary budget expenses, including social programs.

Cooperation between VTB and the Moscow Region authorities was made possible under a relevant agreement.

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