On 15th October 2004 North-West Telecom has made a loan agreement with the RF Sberbank. The amount of the loan is 500 million roubles. The credit line has been provided for 5 years.  The funds received by NWT under the loan agreement with the Sberbank will be used for the financing of Company’s investment programme. The development plan of OJSC North-West Telecom provides for the upgrading and development of networks both through using own monetary funds and through resorting to credit resources.

The Sberbank Russia has been chosen as the partner due to several objective reasons. The Sberbank of Russia is the oldest financial institution, with whom North-West Telecom has already got a successful experience of work. Besides, attracting long-term loans is in line with the policy of NWT aimed at improving Company’s liquidity.