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Loan for 1,3 billion rubles to be taken by authorities of Buryatia - EastRussia | Far East

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Loan for 1,3 billion rubles to be taken by the authorities of Buryatia

Loan for 1,3 billion rubles to be taken by the authorities of Buryatia
Photo: pixabay.com

The authorities of Buryatia announced an auction to provide three loans with a total total limit of 1,3 billion rubles. The republic is ready to pay a little over 130 million rubles for using the money.

According to Interfax, the republic needs money to cover the regional budget deficit, which currently stands at 2,46 billion rubles, as well as to pay off debt obligations. The size of the state debt of Buryatia should not exceed 18 billion 731,7 million rubles. Now it is equal to 8,83 billion rubles, of which more than four billion are commercial loans.

The region intends to attract borrowed funds within one year and five months. The amount was divided into three credit lines, two of which were 500 million rubles and one 300 million rubles. The auction will run from 9 to 11 December.