THE NETHERLANDS DEVELOPMENT FINANCE COMPANY has signed a $5.0 million credit contract with NBD BANK of Nizhni Novgorod, Russia. The loan will be made for a period of five years to develop small and mid-sized businesses in Nizhni Novgorod Region. The money will be received between 2006 and 2007 and used for the long-term financing of regional services, trade, motor transport and manufacturing companies. As was reported earlier, in December 2005, NBD BANK concluded its first $5.0m credit contract with FMO. Those funds were extended to Nizhni Novgorod businesses in the form of long-term hard currency loans for business development.
Source: ROSSIA. REGIONY, September 14, 2006
