Ufa authorities will borrow 500 million rubles from banks to cover the budget deficit

Elvira Latypova

UFA, 21 November 2014. /Bashinform News Agency, Elvira Latypova/. Ufa administration intends to raise credit funds totaling 500 million rubles to cover the deficit of the city budget. The city authorities announced a tender for the provision of services for opening four non-revolving credit lines of 125 million rubles each. The tender will be held on a single electronic trading platform.

The credit facilities are drawn for a period of five years at a rate of maximum 14.5 percent per annum including all fees, it is specified in the tender documentation. The starting price of each credit line contract is - 90,625,000 rubles. The source of commitments funding is Ufa city budget.

Bids for participation in the tender are accepted until 4 December. The tender will be held on December 8.

#city #budget #funds #borrowing

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