OREANDA-NEWS. December 14, 2011. After a public auction just held, Sviaz-Bank is going to open a government-grade contract with the Finance Ministry of Nizhniy Novgorod Region for a revolving credit line with a debt limit of 500 million rubles, reported the press-centre of Sviaz-Bank.

The borrower will use the loan funds to finance the deficit of the regional budget and pay back Nizhniy Novgorod Region’s government-grade debt.

The Bank’s loan funds can be drawn down for one year.

In 2010, Sviaz-Bank gave over 1.5 billion rubles in loans to Nizhniy Novgorod Region.