OREANDA-NEWS. June 26, 2014. The branch of Sviaz-Bank (Vnesheconombank Group) in Nizhniy Novgorod is about to open four credit lines 1 billion rubles each to the Interregional Distribution Grid Company of the Center and Volga Regions, OJSC (IDGC Center and Volga, OJSC). The four credit lines add up to 4billion rubles.

The credit lines have been opened for a period of five years, and the company will use the borrowed funds to finance its current operations.

The IDGC Center and Volga, OJSC, is a leading operator of the power industry. The company transmits electric power and connects users to its networks in nine regions of the Russian Federation – Vladimir, Ivanovo, Kaluga, Kirov, Nizhniy Novgorod, Ryazan, and Tula regions, and the Republic of Mari El and the Udmurtian Republic.

“It is a long-standing tradition for Sviaz-Bank to cooperate with companies in the power industry, and our cooperation with IDGC Center and Volga for many years is based on a profound understanding of the needs of a company in this industry. Our bank offer companies in the power industry situation-related products and services and, still more important, the government’s assured financial support for successful development because Sviaz-Bank is a member of the Vnesheconombank State Corporation’s group,” said Sergey Volokhov, Vice Chairman of the Bank’s Management Board.