Nizhny Novgorod City Hall will arrange a credit line of half a billion rubles.

      December 23, 2025, 18:17 Economy

      The administration of Nizhny Novgorod plans to raise 500 million rubles in borrowed funds. Information about this was posted on the official government procurement portal.

      According to the draft contract, a non-revolving credit line with a lending limit of 500 million rubles will be opened for the municipality. The line will be valid for 180 days. The funds will be used for purposes that correspond to the provisions of Article 103 of the Budget Code of the Russian Federation.

      The opening of the credit line is scheduled for January 15, 2026. After that, the administration will have 30 calendar days to draw down funds within the established limit.

      The contract stipulates that the mayor’s office will be able to use the credit resources as needed. Decisions to raise funds will be made depending on the city’s current financial needs.

      The draft document states that the loan interest rate will be floating. It will consist of the Bank of Russia’s key rate and a margin determined based on the results of an electronic auction.

      The initial contract price is 49.3 million rubles. Funding will be provided from the city budget.

      It was previously reported that Nizhny Novgorod may write off 8.5 billion rubles of budget loans. In addition, the city’s budget was increased by more than 200 million rubles.

      NIA "Nizhny Novgorod" has a Telegram channel. Subscribe to stay informed about major events, exclusive materials, and timely information.

      Copyright © 1999–2025 NIA "Nizhny Novgorod". A hyperlink to NIA "Nizhny Novgorod" is required when reprinting. This resource may contain 18+ materials.