Central regions | Finance, business

Yaroslavl looking for $16.5m loans at max. 12%

18 May '10
Authorities in the city of Yaroslavl have announced an open tender among banks for three one-year loan contracts worth a total of $16.5m.

The city authorities are reportedly looking for an $8.2m line of credit, $5m LOC and $3.2m LOC.

The starting (maximum) interest rate for all three contracts is set at 12%, officials said.

The bids are accepted before May 21, with the auction to take place on June 2, 2010.
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