Volga | Finance, business

Saratov region looking for $33.3m at max. 19%

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.
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