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Friday, 26.04.2024, 05:06
Vilnius to borrow up to EUR 50 mln from EIB
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In his words, the
10-year contract on the 25-50 mln euro loan should be signed shortly, with a
green light from the City Council expected on Wednesday.
"This
would be formed as a credit line. The money would be used for two areas, one of
them is refinancing old debts and making them cheaper. At least half of the
money will be earmarked for these needs, if we take 25 mln euros. The rest of
the sum is planned exclusively for investment in co-financing of projects
financed by the European Union," informed Simasius.
In his
words, interest on the EIB loan would be about 1%, as compared to the current
interest of nearly 4%. According to the municipality's calculations, this would
allow saving about 380,000 euros per year.
Simasius
said the future loan was a "signal" of smooth handling of the Vilnius
debt, which allows restoring trust of financial institutions.
The
Lithuanian capital city's municipality told that the debt currently stands at
385.8 mln euros, including 135.69 mln euros in loans.
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