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Russia Eases Cyprus Loan Terms
13.09.2013 10:17
Russia Eases Cyprus Loan Terms
Photo Credit: http://gorod48.ru

Russia has agreed to ease loan terms for Cyprus to help the European nation weather its devastating banking crisis.

      The news was announced by Deputy Finance Minister Sergey Storchak, says the Interfax news agency.

      In 2011, Russia issued a 2.5 billion euro loan for 4.5 years at an interest of 4.5 percent.

      The states now agreed to lower the interest rate to 2.5 percent and ease other terms, too. 




Author: Mikhail Vesely

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