Estonia, Financial Services, Legislation, Loan
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Monday, 29.04.2024, 22:09
Swedbank to issue a loan to Estonia
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On Thursday the Government decided that it will take a loan of 150 million euros (approximately 2.4 billion kroons) from Swedbank for the next two years.
Minister of finance Ivari Padar stated that Swedbank will ask an interest rate of 2.75% plus Euribor from the State. He noted that the State carried out negotiations with all banks operating in Estonia and the offer made by Swedbank was the most beneficial.
Press spokesperson of Swedbank Kristi Künnapas confirmed that the contract will be signed in May, but declined from commenting on the loan terms.
Earlier the Ministry of Finance has estimated that the Government should be able to take a loan at the interest rate of 7-8% per year.
As of April 21, 2009, the State's budgetary loan balance is 330,378,161.63 kroons.
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