Sberbank of Russia, the largest bank in Russia and the CIS countries, recently signed a cooperation agreement with the Government of the Nizhny Novgorod region.
The agreement, signed by Chairman of the Management Board of Sberbank of Russia German Gref and Governor of Nizhny Novgorod Valery Shantsev, includes updating the region's fleet of vehicles, as well as construction of residential real estate and infrastructure.
"Savings Bank for many years has been a strategic partner of the Nizhny Novgorod region and one of the largest creditors of the regional budget," Gref said. "We are ready to continue to participate actively in the implementation of priority projects for the regional economy, promoted the development of industrial and innovative infrastructure to support social programs."
The total corporate loan portfolio of Sberbank in the Nizhny Novgorod region exceeds $4.03 billion. The bank concluded an agreement to open credit lines to finance the budget deficit of the region for a total of $383,000 earlier this year.
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