On October 15, 2004 North West Telecom signed a 5-year agreement with Sberbank of Russia for a RUR 500,000 credit line. Funds received will go towards financing NWT’s investment program.  The operator intends to upgrade and develop its networks both by using its own resources and attracting borrowed funds.

NWT picked Sberbank for a number of reasons.  First of all, Sberbank is Russia’s oldest financial structure with which NWT already has extensive experience.  What’s more, attracting long-term loans is consistent with NWT’s policy which is aimed at raising the company’s liquidity.