14 Oct '09
Authorities in Saratov region have announced an open tender among banks for nine loan contracts worth a total of $33.3m, regional officials report.
The authorities are reportedly looking for eight $3.4m loans and one $6.1m loan.
The funds are reportedly to be loaned for seven to 36 months. Maximum interest rate is set at 19%.
Under plans, the funds are to be used to cover the regional budget deficit.
The auction is scheduled to take place on November 3, 2009.