24 Sep '10
Nizhny Novgorod-based NBD-Bank has announced plans to get an additional $4m loan with a US finance company World Business Capital (WBC).
The bank and the firm have agreed to increase an earlier opened line of credit by $4m, the bank specifies.
The funds are reportedly to be loaned for ten years, the interest rate has yet to be disclosed.
Under plans, the funds are to be used to finance small and medium businesses in Nizhny Novgorod, Kirov, Ivanovo and Penza regions, as well as the Republic of Chuvashia.